CPO Futures Set To Trade In RM4,200-RM4,300 Range Next Week -- Interband
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, June 13 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade within the range of RM4,200-RM4,300 per tonne next week.
Interband Group of Companies senior palm oil trader Jim Teh said the projected trading range comes despite Malaysia's strong palm oil stock position in April, as reported by the Malaysian Palm Oil Board (MPOB).
He said prices at these levels are likely to attract buyers from India, China, Pakistan, the Middle East, the European Union and the United States.
Kuala Lumpur-based proprietary trader David Ng of Iceberg X Sdn Bhd said CPO futures contracts are expected to trade with an upward bias next week amid concerns over a weaker production outlook. “We anticipate prices to be between RM4,40 and RM4,550 a tonne next week,” he added.
On a Friday-to-Friday basis, the June 2026 contract dropped RM105 to RM4,387 per tonne, while the July 2026 contract fell RM91 to RM4,435, and the September 2026 contract decreased RM79 each to RM4,475.
The August 2026 contract lost RM73 to RM4,511 per tonne, the October 2026 contract went down RM72 to RM4,544, and the November 2026 contract slid RM76 to RM4,571.
The weekly trading volume jumped to 418,814 lots from 298,261 lots last week, while open interest decreased to 283,513 contracts from 293,957 previously.
The physical CPO price for June South dropped RM50 to RM4,470 per tonne.
-- BERNAMA