KUALA LUMPUR, April 11: Crude palm oil (CPO) prices on Malaysia’s derivatives exchange are likely to trade cautiously next week, dealers said on Friday.
CPO prices for April fell seven ringgit to close at 1,455 ringgit ($382.89) a ton at the end of the week.
Prices are expected to move along a wide range, hence investor will stay out. There is also no fresh leads to push the market up, he said.
The impact of the Iraq war has been factored in and concerns subsided after US troops took control of Baghdad, he added.
In the futures market, the May contract fell eight ringgit over the week to settle at 1,449 a ton.
The June contract lost 28 ringgit at 1,424, the July contract shed 33 ringgit to 1,412 while August dropped 32 ringgit to 1,404.
The average daily price for April was 1,462.80 ringgit a ton. —AFP
