CPO Futures Set To Trade Rangebound Next Week With Slight Downside Bias

By Danni Haizal Danial Donald

KUALA LUMPUR, Sept 26 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade rangebound next week, with a slight downside bias amid profit-taking activities.

Interband Group of Companies senior palm oil trader Jim Teh said CPO futures could see profit-taking activities emerging following lower energy prices.

“Hence, prices are expected to trade between RM4,300 per tonne and RM4,400 per tonne, despite higher volume of CPO stock for August at 2.8 million tonnes,” he told Bernama.

Teh also said palm oil stock remains high in Indonesia, with physical demand coming from China, India, Pakistan, West Asia, the European Union, and the United States.

Iceberg X Sdn Bhd proprietary trader David Ng said CPO prices are expected to consolidate, with movements likely to be guided by palm oil export data and the performance of competing vegetable oils.

“We expect prices to trade within a RM4,550 to RM4,750 per tonne range next week,” he said.

On a Friday-to-Friday basis, the October 2026 contract fell RM223 to RM4,475 per tonne, while November lost RM222 to RM4,578 and December slipped RM226 to RM4,672.

January 2027 dropped RM215 to RM4,768 per tonne, February declined RM193 to RM4,861, while March weakened by RM172 to RM4,941.

Weekly trading volume rose to 665,059 lots from 561,289 lots in the preceding week, while open interest increased to 342,948 contracts from 339,480 contracts previously.

The physical CPO price for October South dropped RM120 to RM4,530 per tonne.

-- BERNAMA