KUALA LUMPUR, Feb 2 (Bernama) -- Crude palm oil (CPO) futures prices onthe Malaysian Derivatives Exchange (MDEX) were expected to be inrangebound trading next week, a dealer said.

Benchmark April was expected to be traded within RM1,120 and RM1,180 levelnext week, the dealer added.

He said prices were more prone to be at the downward trend rather thanupward trend next week as the export data released by Societe Generale deSurveillance (SGS) for January was low.

SGS reported that export for the month of January stood at 867,833 tonnescompared with 1.04 million tonnes in December.

In the week just ended, CPO futures prices closed sharply lower due tolacklustre trading.

However, the market closed the week slightly lower backed by somepre-weekend short-coverings ahead of the long weekend holidays.

The market was closed yesterday due to Federal Territory Day. Februaryclosed RM1 lower at RM1,120 per tonne and March fell RM4 to RM1,136 atonne.

Meanwhile, April ended RM5 lower to settle at RM1,155 per tonne and Maydeclined by RM3 to close at RM1,162 per tonne.

Accumulated turnover decreased to 14,055 lots from 15,306 lots theprevious week.

As for the physical market, Feb south was traded at RM1,135 a tonne onThursday. -- BERNAMA