CPO Futures Likely To Trade Lower Next Week On Higher Stocks

By Danni Haizal Danial Donald

KUALA LUMPUR, Oct 18 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives are expected to trade with a bearish bias next week, weighed down by elevated stock levels in Malaysia, said palm oil trader David Ng.

“We expect prices to move between RM4,400 and RM4,580 per tonne,” he told Bernama.

Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh said the market may experience a technical correction, especially with a shorter trading week due to the Deepavali holiday.

“We anticipate CPO futures to trade between RM4,100 and RM4,200 per tonne,” he said.

On inventory levels, Teh noted that stockpiles in both Malaysia and Indonesia remain firm.

“Physical demand may come from China, Pakistan, Middle Eastern countries, European countries, and to a lesser extent, the United States,” he added.

On a weekly basis, the new spot-month November 2025 decreased RM57 to RM4,439 a tonne, while December 2025 erased RM68 to RM4,476 a tonne, and January 2026 slipped RM52 to RM4,513 a tonne.

February 2026 dropped RM29 to RM4,527 a tonne and March 2026 edged down RM12 to RM4,518 a tonne. The new month April 2026 contract stood at RM4,496 a tonne.

Weekly trading volume rose to 510,118 lots from 470,418 lots last week, while open interest climbed to 289,323 contracts from 282,064 previously.

The physical CPO price for October South fell RM60 to RM4,440 a tonne.

-- BERNAMA