KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with an upward bias this week, a dealer told Bernama.

       However, the CPO market will witness profit-taking activities due to the recent price rally, the national news agency quoted palm oil trader David Ng as saying.

       Ng projected the commodity would trade between RM5,500 and RM5,750 per tonne this week.

       Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh said the CPO futures contract is expected to trade in a cautious mode. He said CPO prices would likely hover between RM5,200 and RM5,300 per tonne.