Business News

Palm oil to continue on uncertain trend

palm-oil-to-continue-on-uncertain-trend

The trend this week for crude palm oil is seen as uncertain in the light of the recent euro zone debt crisis. According to dealers I Bursa Malaysia, the futures prices of CPO (Crude Palm Oil) is expected to be continue on in its uncertain trend, very much like how it has been last week. However, with the release of the export data expected, it might change the overall sentiments of investors where some dealers believe would drive a more bullish trends.

The current euro zone debt crisis is hitting all areas of the stock market and in Bursa Malaysia where counters are affected by the major sell-off by the global market and this have also affected the futures market as well as on the Nymex crude oil price. According to a dealer, the futures prices this coming week could trade around RM20 to RM30 more than that of last week although it might continue to be uncertain.

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