By K. Naveen Prabu
KUALA LUMPUR, March 7 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade positively next week, supported by stronger crude oil prices amid the United States-Iran conflict, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said the ongoing geopolitical conflict in the Middle East has lifted crude oil prices, which in turn are supporting palm oil prices.
Indications of weaker production are also expected to underpin the market, he said.
“Next week, we expect prices to range between RM4,200 and RM4,450 per tonne,” he told Bernama.
On a Friday-to-Friday basis, the March 2026 contract rose RM261 to RM4,250 per tonne, the April 2026 contract increased RM306 to RM4,336 per tonne, and the May 2026 contract gained RM325 to RM4,367 per tonne.
The June 2026 contract advanced RM229 to RM4,275 per tonne, the July 2026 contract climbed RM322 to RM4,365 per tonne, and the August 2026 contract added RM309 to RM4,347 per tonne.
The weekly trading volume rose to 542,086 lots from 313,593 lots last week, while open interest decreased to 224,475 contracts on Friday from 227,706 a week earlier.
The physical CPO price for March South increased by RM110 to RM4,160 a tonne.
-- BERNAMA
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