CPO Futures Buoyed By Weaker Output Expectations, Firm Export Demand

By K. Naveen Prabu

KUALA LUMPUR, July 3 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended mostly higher today, supported by expectations of weaker production and firm export demand.

Palm oil trader David Ng said market sentiment has improved as traders anticipate lower output in the coming weeks, while recent survey data points to strong exports.

“The combination of weaker production prospects and steady exports is keeping prices well-supported for now,” he told Bernama. 

Ng added that firm buying interest from India has also been a key factor supporting the market, as the country continues to increase its palm oil imports in response to competitive pricing and steady demand.

“We see support at RM4,000 per tonne and resistance at RM4,180,” he said.

At the close, spot-month July contract decreased RM2 to RM4,032 per tonne, August 2025 gained RM29 to RM4,084 per tonne, and September 2025 rose by RM29 to RM4,091 per tonne.

October 2025 advanced RM29 to RM4,092 per tonne, November 2025 climbed RM25 to RM4,090 per tonne, and December 2025 increased RM21 to RM4,095 per tonne.

Trading volume decreased to 58,749 lots from 64,163 on Wednesday, while open interest went up to 225,914 contracts from 224,873 previously.

The physical CPO price for July South increased RM30 to RM4,080 per tonne.

-- BERNAMA