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CPO futures likely to see technical correction next week



KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to experience a technical correction next week, ahead of the production data release.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said markets will closely monitor the production data from the Malaysian Palm Oil Association (MPOA) and Southern Peninsula Palm Oil Millers' Association (SPPOMA) for the Sept 1-20 period.

"Next week's trading activities will be based on production assessment data by MPOA and SPPOMA with expectation for production to rise at a slower rate from last month,” he told Bernama.

Meanwhile, palm oil trader David Ng forecast CPO futures to trade in range-bound mode as ongoing supply concern in the near ter

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