CPO Futures End Mixed Amid Concerns Over Higher Inventories
By Danni Haizal Danial Donald
KUALA LUMPUR, Oct 19 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended mixed on Monday, as concerns over higher palm oil inventories weighed on market sentiment.
Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was further dampened by softer crude oil prices.
However, he said further losses were capped by firmer Dalian Commodity Exchange vegetable oils trading and expectations of stronger palm oil demand in India ahead of Deepavali celebration.
“Looking ahead, improving export demand could help cushion further downside, although high domestic stocks may continue to limit any meaningful recovery.
“Hence, we see support around RM4,600 per tonne with resistance at RM4,850 per tonne,” he told Bernama.
At the close, the November 2026 contract fell RM21 to RM4,515 per tonne, the December 2026 contract decreased RM10 to RM4,666 per tonne, and January 2027 slipped RM3 to RM4,766 per tonne.
Meanwhile, the February 2027 contract edged up RM5 to RM4,857 per tonne, March 2027 rose RM10 to RM4,936 per tonne, and April 2027 improved RM9 to RM4,993 per tonne.
Trading volume declined to 106,846 lots from 133,428 last Friday, while open interest dropped to 332,357 contracts from 339,364 previously.
The physical CPO price for November South increased RM30 to RM4,530 per tonne.
-- BERNAMA