CPO Futures End Higher, Tracking Rally In Energy Prices

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, April 24 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed moderately higher today, tracking gains in energy prices,

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the increase also came as the palm oil discount widened against gas oil, while destination buying, particularly from China, showed improvement.

“However, the high production and low export performance of Malaysian palm oil during the April 1-20 period and some profit-taking in soybean oil on the Chicago Board of Trade (CBOT) futures are making participants cautious,” he told Bernama.

Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said CPO futures ended the week marginally higher supported by gains in related vegetable oils.

He said traders were also positioning for higher crude oil prices amid wavering signals from the United States and Iran over the potential reopening of the Strait of Hormuz, which continued to influence sentiment across commodity markets.

At the close, the May 2026 contract was up RM12 to RM4,517 per tonne, June 2026 increased RM13 to RM4,565 per tonne, and July 2026 gained RM18 to RM4,597 per tonne.

The August 2026 contract edged up RM24 to RM4,617 per tonne, September 2026 added RM29 to RM4,627 per tonne and October 2026 gained RM32 to RM4,622 per tonne.

Trading volume strengthened to 115,936 lots from 76,015 lots on Thursday, while open interest rose to 258,789 contracts from 255,331.

The physical CPO price for May South remains unchanged at RM4,570 per tonne.

-- BERNAMA