Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are expected to be easier next week on continued
profit-taking and technical correction.

Interband Group of Companies senior palm oil trader, Jim Teh, said the CPO futures contracts on Bursa Malaysia Derivatives were likely to trade easier at between RM2,400 and RM2,500 per tonne next week.

For the week just-ended, the local market was traded mostly lower in a quiet and thin trading due lack of buying activities as the major players were away for the New Year holidays.

On a Friday-to-Friday basis, January 2014 fell RM6 to RM2,606 a tonne, February 2014 rose RM4 to RM2,630, March 2014 gained RM6 to RM2,640, April 2014 increased RM4 to RM2,644, May 2014 surged RM8 to RM2,644 and June 2014 added RM7 to RM2,639.

Weekly turnover increased to 89,934 lots against 79,427 lots last week, while open interest rose to 173,553 contracts from 173,376 contracts last Friday.

For the physical market, January South was traded at RM2,610 a tonne, unchanged as last Friday's.-- Bernama