KUALA LUMPUR, Oct 11: Crude palm oil (CPO) prices on Malaysia’s Derivatives Exchange are expected to be rangebound in the coming days after rising 0.5 per cent this week, dealers said on Friday.

CPO prices for October closed at 1,367 ringgit (359.74 dollars) a ton at the end of the week.

He said prices were holding well above the 1,350 ringgit level despite bearish forecasts released Friday by a private consultant on September’s production, export and stock figures.

Exports have been strong in the first 10 days of October and expected to remain robust with strong demand coming from China, India and Pakistan ahead of forthcoming festive seasons, he added.

Prime Minister Mahathir Mohamad is expected to push for further reduction in palm oil tariffs during his visit to India in mid-October to make the product more competitive, other dealers said.—AFP