CPO Futures Seen Lower Next Week On Weak Exports

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Feb 15 (Bernama) --Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade slightly lower next week due to recent export weakness, said palm oil trader David Ng.  

He noted that demand from India had been persistently weak in recent weeks but expected the situation to improve by the end of the week.  

“We expect the commodity to trade between RM4,500 and RM4,700 per tonne,” he told Bernama.  

Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh forecast CPO prices to range between RM4,100 and RM4,300 per tonne, despite lower stocks reported by the Malaysian Palm Oil Board (MPOB) in its January 2025 industry performance report on Monday.  

MPOB said Malaysia’s processed palm oil stockpiles fell 2.90 per cent to 790,817 tonnes in January from 814,426 tonnes the previous month, while total palm oil stocks declined 7.55 per cent to 1.58 million tonnes from 1.71 million tonnes in December.  

On a Friday-to-Friday basis, the February 2025 spot-month contract fell RM56 to RM4,725 per tonne.  

The March 2025 contract rose RM99 to RM4,700 per tonne, April 2025 gained RM88 to RM4,592 per tonne, May 2025 added RM90 to RM4,499 per tonne, June 2025 climbed RM84 to RM4,404 per tonne, and July 2025 advanced RM60 to RM4,321 per tonne.

Weekly trading volume surged to 430,283 lots from 375,637 lots the previous week, while open interest widened to 230,867 contracts from 227,401 contracts.  

The physical CPO price for February South declined RM20 to RM4,800 per tonne.  

-- BERNAMA