At Monday's close, the benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 3.9 percent at 1,965 ringgit ($469.42) a tonne. That was its biggest one-day dip since Feb. 16 last year. Traded volumes stood at 53,531 lots of 25 tonnes each.
KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are likely to trade between RM2,000 and RM2,050 a tonne next week on demand from China, India, Pakistan and the Middle East, said a dealer.
Interband Group of Companies senior trader Jim Teh said demand from the countries is likely to be sustained ahead of the Aidilfitri celebration in early June.
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