By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Aug 23 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a slight bearish bias amid the recent sharp price rally that may deter further buying, a trader said.
Palm oil dealer David Ng said the recent price increase in the palm oil market is making palm oil more expensive compared to other vegetable oils.
“Thus, we may see demand shifting away from palm and to other vegetable oils which may cause demand to weaken in the coming weeks.
“Next week we expect the market to trade between RM4,450 and RM4,650,” he told Bernama.
On a weekly basis, the September 2025 gained RM28 to RM4,453 per tonne, and October 2025 soared RM26 to RM4,427 per tonne.
The November 2025 contract advanced RM18 to RM4,529 per tonne, December 2025 was up RM18 to RM4,546, while January 2026 climbed RM21 to RM4,547 and February 2026 stood at RM4,528.
The August 2025 contracts stood at RM4,400 per tonne last Friday.
The weekly trading volume decreased to 361,870 lots from 472,033 lots last week, while open interest eased to 249,263 contracts from 249,718 contracts.
The physical CPO price for August South stood at RM4,400 per tonne last Friday, while September South stood at RM4,470.
-- BERNAMA
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