CPO Futures Likely To Trade Lower Next Week Amid Rising Stocks, Higher Output

By Durratul Ain Ahmad Fuad and Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, Jan 10 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade with a downward bias next week amid rising stock levels and anticipation of higher production in the coming weeks, said a trader.

Kuala Lumpur-based Iceberg X Sdn Bhd proprietary trader David Ng said the stock level in Malaysia is reaching almost three million tonnes and 2025 total production could surpass 20 million tonnes, the highest in the past three years.

“We expect CPO prices to range between RM3,950 and RM4,100 per tonne. 

“Market traders will be closely monitoring the official Malaysian Palm Oil Board report due to be released next Monday,” he told Bernama.

This week CPO futures traded mostly higher on stronger prices on the Dalian Commodity Exchange, higher soybean oil prices on the Chicago Board of Trade, and market speculation that Indonesia may raise CPO export duty from 10 per cent to 15 per cent to fund the B50 biodiesel mandate.

On a Friday-to-Friday basis, the January 2026 contract slid RM4 to RM3,950 per tonne, but February 2026 increased RM31 to RM4,011 per tonne, March 2026 rose RM45 to RM4,036 per tonne, April 2026 jumped RM50 to RM4,049 per tonne, May 2026 added RM56 to RM4,053, and June 2026 put on RM50 to RM4,044 per tonne.

The weekly trading volume surged to 395,181 lots from 166,003 lots last week, while open interest edged up to 260,191 contracts from 259,181 contracts previously.

The new physical CPO price for January South rose RM10 to RM4,010 a tonne.

 -- BERNAMA