CPO Futures Close Lower On Concerns Over Weak Demand, Rising Output

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Oct 28 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed down by concerns over weak demand and rising output of the commodity in the coming weeks.

However, palm oil trader David Ng told Bernama that the commodity’s prices are expected to remain well supported at RM4,250 a tonne, with resistance at RM4,400.

CGS International Securities Malaysia Sdn Bhd said the market sentiment today was dragged down by slower exports from major producer Malaysia and concerns over weaker consumption during the winter months in the northern hemisphere.

“Shipments to India slumped 35 per cent from a month earlier during the first 25 days of this month, according to data compiled by cargo surveyor Intertek Testing Services. The start of the winter season could also put pressure on demand from China,” it said in a report today.

At the close, the spot-month November 2025 contract lost RM51 to RM4,284 a tonne, while the December 2025 contract eased RM54 to RM4,300, and the January 2026 note fell RM56 to RM4,317.

The February 2026 note dropped RM58 to RM4,330 a tonne, while March 2026 was down RM55 to RM4,331 a and April 2026 lost RM56 to RM4,321.

The total volume rose to 106,224 from 69,120 lots on Monday, while open interest increased 270,174 contracts from 268,476 contracts previously. On the physical market, November South lost RM30 to RM4,340 a tonne.

-- BERNAMA