By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, May 24 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade sideways with a slight downward bias next week due to expected higher output in the coming weeks.
“We expect the commodity to trade at between RM3,780 and RM3,930 (per tonne),” palm oil trader David Ng told Bernama.
Interband Group of Companies senior palm oil trader Jim Teh sees the commodity’s price ranging between RM3,800 and RM3,860 next week.
He noted that the current price range represents a good bargain for physical buyers from China, India, Pakistan, the Middle East and European Union countries.
Commenting on the weather, Teh said current conditions are ideal for oil palm cultivation, with the favourable tropical climate supporting healthy crop growth.
On a Friday-to-Friday basis, the new spot-month June 2025 contract fell RM15 to RM3,824 per tonne, July 2025 was RM8 higher at RM3,836 per tonne, and August 2025 added RM12 to RM3,827.
The September 2025 note rose RM13 to RM3,821 per tonne, October 2025 edged up RM15 to RM3,824, and November 2025 gained RM13 to RM3,831.
The weekly trading volume slid to 331,960 lots from 378,493 the previous week, while open interest added to 244,075 contracts from 239,366.
The physical CPO price for June South slipped by RM10 to RM3,880 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
