CPO Futures Rebound On Renewed Buying Interest

By K. Naveen Prabu

KUALA LUMPUR, Nov 4 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today, breaking its multi-day downtrend.

Palm oil trader David Ng said that softer prices attracted fresh buying interest from market participants seeking value at lower levels.

“We see support at RM4,100 per tonne, while resistance is anticipated around RM4,280,” he told Bernama.

Meanwhile, Fastmarkets Palm Oil Analytics Senior Analyst Sathia Varqa said CPO futures rebounded modestly after falling to a four-month low, as traders priced in expectations of stronger October output and rising inventories.

“Prices fell as traders expected higher October output and growing stockpiles, with UOB Kay Hian estimating an eight to 12 per cent rise in production from September onwards, ahead of the official Malaysian Palm Oil Board (MPOB) data due on Nov 10,” he said.

At the close, the spot-month November 2025 contract rose RM21 to RM4,110 a tonne, December 2025 gained RM21 to RM4,118 a tonne, January 2026 advanced RM28 to RM4,143 a tonne, and February 2026 added RM36 to RM4,171 a tonne.

Meanwhile, March 2026 improved RM41 to RM4,186 a tonne, and April 2026 increased RM41 to RM4,185 a tonne.

Total volume expanded to 119,345 lots from 113,744 lots on Monday, while open interest edged up to 265,293 contracts from 265,151 contracts previously.

The physical CPO price for November South was RM30 lower at RM4,150 a tonne.

-- BERNAMA