CPO futures likely to rebound next week

For the week just ended, the market was traded range-bound, mainly influenced by COVID-19 and crude oil price crash that rattled the global equities, commodities, bonds and currencies, which spiralled downwards.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to rebound next week, as global central banks are set to boost liquidity in the COVID-19- hit markets to instill market confidence.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said over the last week, a series of big money measures had been announced by several central banks, including the more than US$1 trillion of liquidity by the US Federal Reserve to stem the market meltdown caused by the COVID-19 jitters.