By Fatin Umairah Abdul Hamid
KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade within the RM4,200 to RM4,300 per tonne range despite easing tensions in West Asia, said a trader.
Interband Group of Companies’ senior palm oil trader, Jim Teh, said market players noted that CPO futures had benefited from the geopolitical conflict, as speculative trading activity helped lift energy prices.
However, crude oil prices have since retreated to around US$80 per barrel.
“As far as palm oil is concerned, it has been one of the beneficiaries of the conflict-driven rally in commodity markets,” he said.
Meanwhile, Iceberg X Sdn Bhd’s proprietary trader, David Ng, said CPO futures are expected to trade with a slight upward bias, within a range of RM4,550 to RM4,750 amid high energy prices and robust demand.
On a Friday-to-Friday basis, the July 2026 contract gained RM159 to RM4,594 per tonne, the August 2026 contract rose RM147 to RM4,622 per tonne, and the September 2026 contract advanced RM135 to RM4,646 per tonne.
The October 2026 contract added RM124 to RM4,668 per tonne, the November 2026 contract rose by RM118 to RM4,689 per tonne, and the December 2026 contract stood at RM4,710 per tonne.
The weekly trading volume fell to 330,455 lots from 418,814 lots last week, while open interest rose to 287,112 contracts from 283,513 previously.
The physical CPO price for June South remained unchanged at RM4,470 per tonne. – BERNAMA
