By Fatin Umairah Abdul Hamid
KUALA LUMPUR, April 11 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to see profit-taking activity next week, with prices likely to trade between RM4,200 per tonne and RM4,300 per tonne, said a trader.
Interband Group of Companies senior palm oil trader Jim Teh said current price levels are considered attractive, prompting some speculative liquidation amid ongoing geopolitical uncertainties.
“Speculators are moving out partly due to the West Asia conflict situation. Lower energy prices are also weighing on sentiment in the palm oil market,” he told Bernama.
He noted that demand for physical CPO is expected to be supported by key importing countries, including China, Pakistan, India, the European Union, and the United States.
On a Friday-to-Friday basis, the April 2026 contract declined RM254 to RM4,491 per tonne, May 2026 fell RM299 to RM4,500 per tonne, and June 2026 was RM301 lower at RM4,538 per tonne.
The July 2026 contract decreased RM293 to RM4,551 per tonne, August 2026 slipped RM285 to RM4,539 per tonne, and September 2026 dropped RM269 to RM4,520 per tonne.
The weekly trading volume dropped to 391,313 lots from 518,950 lots last week, while open interest rose to 259,223 contracts from 252,147 contracts previously.
The physical CPO price for April South dropped RM180 to RM4,580 per tonne.
-- BERNAMA
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