KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend higher next week underpinned by improving exports and weaker output. Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said CPO futures still have legs to climb higher as traders anticipated that heavy rains in Kalimantan, Indonesia would disrupt harvest and this would likely drive prices higher. Cargo surveyor Intertek Testing Services reported that Malaysia's palm oil exports in the July 1-15 period fell to 831,155 tonnes from 914,120 tonnes in June 1-15 period, down 9.08 per cent. Exports for the July 1-10 period amounted to 448,516 tonnes against 545,360 tonnes in June 1-10, a decline of 17.76 per cent. Sathia said the CPO market will focus on July 1-20 production estimate from the Malaysian Palm Oil Association (MPOA) next week for market direction. Meanwhile, Interband Group of Companies Senior Palm Oil Trader Jim Teh said traders also expected increasing demand for CPO from China, Pakistan and India. However, Teh said with the price at the higher end, the market could trigger some speculative play and profit-taking. "The price movement next week is expected to confine between RM2,400 and RM2,520 per tonne,,
Buy Apple Account
if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.