CPO

THE crude palm oil ( CPO) futures contract on Bursa Malaysia Derivatives is likely to trade lower at between RM1,930 and RM2,050 a tonne, said a dealer.

Interband Group of Companies senior trader Jim Teh said Malaysia CPO futures hit its three- year low last week, pressured by speculative play and persistent concern over increasing stocks in Malaysia and Indonesia.

“The lingering uncertainties surrounding the market, particularly on the US- China trade war, would also continue to weigh down the prices,” he told Bernama.

Traders also await the Malaysian Palm Oil Board’s report due on Monday for export figure in first 10 days of November for market direction.

“Increased stocks figure will put further pressure CPO prices,” he added.