KUALA LUMPUR, Dec 13: Crude palm oil (CPO) prices on Malaysia’s Derivatives Exchange broke new highs today and are expected to remain on an upswing in the coming week, dealers said on Friday.

The market is holding very well and is expected to hit 1,650 ringgit next week, said a dealer with a local brokerage.

Other dealers said CPO prices were following through on soya oil gains on the Chicago Board of Trade.

In the futures market, the December contract rose 30 ringgit over the week to settle at 1,628 a ton. The January contract was up 24 ringgit to 1,632 a ton while February contract gained 14 ringgit to 1,630.

The average daily price for December was 1,611 ringgit a ton.—AFP