CPO Futures Close Lower On Crude Oil Decline
By Danni Haizal Danial Donald
KUALA LUMPUR, March 10 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives pared yesterday’s gains to close lower on Tuesday.
Iceberg X Sdn Bhd proprietary trader David Ng said a sharp decline in crude oil prices weighed down market sentiment.
At the time of writing, Brent crude prices dropped 5.76 per cent to US$93.37 per barrel.
“Hence, we see prices supported above RM4,350 per tonne and resistance at RM4,550 per tonne,” he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said CPO retreated sharply on profit-taking activities, mirroring the broader vegetable oil complex fall.
It was reported that soybean futures closed lower on Tuesday at the Dalian Commodity Exchange (DCE), with the most active contract for May 2026 dipping 83 yuan (about US$12.03) to close at 4,749 yuan per tonne.
Meanwhile, the Malaysian Palm Oil Board (MPOB) said the country’s palm oil stocks dropped 3.94 per cent, or 111,062 tonnes, to 2.7 million tonnes in February 2026 from 2.82 million tonnes in January 2026.
In its February industry performance report, MPOB said CPO stocks slipped 11.67 per cent, or 195,242 tonnes, in February to 1.48 million tonnes from 1.67 million tonnes in January.
“Palm oil exports reduced 22.48 per cent in February 2026 to 1.13 million tonnes from 1.45 million tonnes a month earlier, while CPO production fell 18.55 per cent, or 292,534 tonnes, to 1.28 million tonnes from 1.58 million tonnes in the previous month,” it said.
At the close, the March 2026 and April 2026 contracts slipped RM142 each to RM4,312 and RM4,398 per tonne, respectively. The May 2026 contract fell RM139 to RM4,428 per tonne.
The June 2026 contract dipped RM131 to RM4,428 per tonne, the July 2026 contract went down RM123 to RM4,412 per tonne, and the August 2026 contract narrowed RM118 to RM4,384 per tonne.
Trading volume declined to 147,182 lots from 220,402 on Monday, while open interest reduced to 226,797 contracts from 237,662 contracts previously.
The physical CPO price for March South reduced by RM130 to RM4,370 per tonne.
-- BERNAMA
