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MARKET • 10/07/2026 09:28 PM

CPO Futures End Lower On Rising Stocks, Weak export Performance

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, July 10 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday, weighed down by concerns over rising stock levels in the country, weaker-than-expected export performance and lower crude oil and soybean oil prices.

Iceberg X Sdn Bhd proprietary trader David Ng said the Malaysian Palm Oil Board’s (MPOB) report of almost five per cent month-on-month increase in Malaysia's palm oil stocks for June weighs on market sentiment, raising concerns over ample supply.

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“Traders will continue to monitor export demand, inventory levels, movements in rival edible oils and crude oil prices for fresh market direction.

“We see prices supported at RM4,500 a tonne and resistance at RM4,680 a tonne,” he told Bernama.

According to MPOB, Malaysia’s palm oil stockpiles rose 4.78 per cent, or 116,123 tonnes, to 2.54 million tonnes in June 2026 from 2.43 million tonnes a month earlier, while CPO stocks increased 3.75 per cent, or 48,153 tonnes, to 1.33 million tonnes in June 2026 from 1.28 million tonnes in May 2026.

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On production, MPOB said CPO output increased 8.08 per cent, or 122,450 tonnes, to 1.64 million tonnes from 1.52 million a month earlier, while palm kernel output also rose 8.16 per cent month on month to 381,480 tonnes from 352,697.

MPOB said palm oil exports rose 6.19 per cent in June 2026 to 1.20 million tonnes from 1.13 million a month earlier, while palm kernel oil exports declined by 2.64 per cent to 83,712 tonnes.

At the close, the spot month July 2026 contract decreased RM27 to RM4,455 a tonne, August 2026 and October 2026 went down RM80 each to RM4,476 and RM4,547, September 2026 slipped RM81 to RM4,513, November 2026 shed RM77 to RM4,582 and December 2026 eased RM77 to RM4,612.

The trading volume improved to 113,131 lots from 84,918 lots on Thursday, while open interest strengthened to 286,062 contracts from 284,416 contracts previously.

The physical CPO price for July South decreased by RM40 to RM4,490 per tonne.

-- BERNAMA

 

 

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