Palm oil may see correction RM(300-500) next week

(B-Trams)Next week Expected CPO trader lower on profit taking after market hit the RM5600 because many big traders are on leave due to Chinese new year’s  holidays.

next week forecast looks between RM5200 to 5000,recent Indonasia export policy hit the Asia market specially Pakistani market and it will be the strong cause to rise the cooking oil prices in Pakistan, due to rise in prices Pakistan has less import and Pakistani local mustard crops arrival are going to start but I don’t think so it will cool the local prices.

Meanwhile many others analysts are predicting market need to be correct for further lead because yesterday palm prices was higher then soybean and on this stage traders prefer to soya special Indian and Chinese traders.