CPO Futures Likely To Trade Sideways Next Week Amid Limited Market Catalysts, Shorter Week

By Siti Noor Afera Abu

KUALA LUMPUR, May 31 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to move sideways next week due to limited market catalysts and a shorter trading week.

Palm oil trader David Ng said the lack of fresh trading cues will likely keep the market range-bound in the near term.

“We expect the commodity to trade between RM3,750 and RM3,950 per tonne,” he said.

Cargo surveyors expect exports of Malaysian palm oil products during May 1-25 to rise between 7.3 per cent and 11.6 per cent, compared with the same period a month ago.

Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said market participants will be keenly watching for May supply and demand estimates from newswire polling and the full month production data from the Malaysian Palm Oil Association, including data from the Malaysian Palm Oil Board (MPOB), due on June 10.

On a Friday-to-Friday basis, the spot-month June 2025 contract rose RM64 to RM3,888 per tonne, July 2025 was RM55 higher at RM3,891 per tonne, and August 2025 added RM51 to RM3,878.

The September 2025 note rose RM49 to RM3,870 per tonne, October 2025 edged up RM46 to RM3,870, and November 2025 gained RM43 to RM3,874.

The weekly trading volume was down to 281,987 lots from 331,960 the previous week, while open interest narrowed to 241,994 contracts from 244,075.

The physical CPO price for June South gained RM50 to RM3,930 per tonne.

Bursa Malaysia Bhd and its subsidiaries will be closed on June 2, 2025, in observance of the birthday of the King of Malaysia, His Majesty Sultan Ibrahim Ibni Almarhum Sultan Iskandar.

They will resume operations on June 3, 2025.

-- BERNAMA