CPO Futures Ends Lower On Weaker Demand Concerns

By Danni Haizal Danial Donald

KUALA LUMPUR, Nov 21 (Bernama) -- Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended the week on a weaker note, closing lower on Friday due to concerns over weak demand, a trader said.

 Palm oil trader David Ng said the rising output in the coming weeks and softer soybean prices also took a toll on market sentiments. 

“Hence, we see support at RM4,050 per tonne and resistance at RM4,200 per tonne,” he told Bernama.

Meanwhile, Malaysian Palm Oil Board (MPOB) reported that Malaysia’s CPO production for 2025 is expected to exceed 2024’s output, projecting that output could surpass 19.5 million tonnes, up from 19.3 million tonnes in 2024.

The board also expects Malaysian palm oil exports for 2025 to be higher, adding that the final export data for the full year will be announced in January 2026 during MPOB’s annual review and outlook conference.

At the close, the December 2025 slipped RM62 to RM4,050 per tonne, January 2026 dropped RM76 to RM4,063 per tonne, and February 2026 fell RM86 to RM4,069 per tonne.

March 2026 declined RM92 to RM4,078 per tonne, April 2026 decreased RM95 to RM4,082 per tonne, and May 2026 erased RM90 to RM4,084 per tonne.

Total volume climbed to 121,669 lots from 70,608 lots on Thursday, while open interest increased to 287,400 contracts from 278,925  contracts previously.

The physical CPO price for December South narrowed by RM50 to RM4,100 per tonne.

-- BERNAMA