CPO Futures Expected To Trade With Bullish Bias Next Week

By K. Naveen Prabu

KUALA LUMPUR, Jan 31 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade with a bullish bias next week amid signs of weaker output, a dealer said.

Proprietary trader David Ng of Iceberg X Sdn Bhd said that tightening supply conditions, alongside improving demand prospects, are likely to provide support for prices.

“We expect prices to trade between RM4,200 a tonne and RM4,350 a tonne next week,” he told Bernama. 

Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said market participants will be closely watching January supply and demand estimates ahead of the official Malaysian Palm Oil Board (MPOB) data.

“Other key data include the Malaysian Palm Oil Association’s (MPOA) Jan 1-31 production estimate and cargo surveyors’ export data for the same period,” he said. 

On a Friday-to-Friday basis, the February 2026 contract rose RM32 to RM4,160 per tonne, March 2026 gained RM45 to RM4,209 per tonne, and April 2026 advanced RM54 to RM4,229 per tonne.

The May 2026 contract strengthened RM56 to RM4,228 per tonne, June 2026 climbed RM52 to RM4,213 per tonne, and the July 2026 contract increased RM45 to RM4,194 per tonne.

The weekly trading volume increased to 455,274 lots from 333,697 lots last week, while open interest decreased to 220,712 contracts from 228,950 contracts previously.

The new physical CPO price for January South rose RM60 to RM4,200 a tonne. 

-- BERNAMA