CPO Futures Close Higher On Firmer Soybean Oil Prices

By Zufazlin Baharuddin

KUALA LUMPUR, Oct 13 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Tuesday, supported by firmer soybean oil on the Chicago Board of Trade (CBOT).

Iceberg X Sdn Bhd proprietary trader David Ng told Bernama that stronger October export demand also contributed to the higher CPO futures price despite concerns over elevated domestic inventories.

According to cargo surveyor Amspec Agri Malaysia, Malaysia’s palm oil exports expanded 37.73 per cent, or 134,760 tonnes, to 491,954 tonnes during Oct 1-10 from 357,194 tonnes in the corresponding period of September.

Meanwhile, independent inspection company Intertek Testing Services reported that exports increased 33.51 per cent, or 131,776 tonnes, to 525,071 tonnes during Oct 1-10, compared with 393,295 tonnes during Sept 1-10.

Yesterday, the Malaysian Palm Oil Board (MPOB) reported that CPO output rose 16.48 per cent, or 299,451 tonnes, to 2.11 million tonnes in September. 

At the close, the October 2026 contract expanded RM198 to RM4,398 per tonne, the November 2026 contract increased RM61 to RM4,559 per tonne, and the December 2026 contract rose RM45 to RM4,682 per tonne.

Meanwhile, the January 2027 contract climbed RM29 to RM4,787 per tonne, February 2027 gained RM13 to RM4,875 per tonne, and March 2027 advanced RM5 to RM4,960 per tonne.

Trading volume surged to 109,117 lots from 103,981 on Monday, while open interest contracted to 331,818 contracts from 333,723 previously.

The physical CPO price for October South fell RM30 to RM4,470 per tonne.  

-- BERNAMA