CPO Futures Expected To Trade With Downward Bias Next Week

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, July 26 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a downward bias next week due to profit-taking from the recent rally.

Interband Group of Companies senior palm oil trader Jim Teh said the palm oil stock in June is high, at about two million tonnes; hence, prices are expected to trade in a tight range between RM3,800 per tonne and RM3,900 per tonne next week.

“The physical demand for palm oil would come from China, India, Pakistan, the Middle East and European countries,” he told Bernama.

Similarly, palm oil trader David Ng said the rising output and stock levels of CPO in Malaysia will be the market focus next week.

He said Russia’s announcement on the suspension of export duty for sunflower oil, as reported, might have a short-term impact on CPO prices.

“We expect prices to trade between RM4,150 per tonne and RM4,300 per tonne next week,” he said.

On a weekly basis, the August 2025 contract slid RM41 to RM4,221 per tonne, while the September 2025 contract shrank RM51 to RM4,258 per tonne, and the October 2025 contract shed RM42 to RM4,273 per tonne.

The November 2025 contract inched down RM22 to RM4,283 per tonne, December 2025 remained unchanged from last week at RM4,290 per tonne, and January 2026 gained RM15 to RM4,290 per tonne.

The weekly trading volume shrank to 385,858 lots from 555,657 lots last week, while open interest went down to 229,303 contracts from 237,735 contracts.

The physical CPO price for July South was RM60 lower at RM4,230 per tonne.

-- BERNAMA