CPO Futures Close Lower Amid Bearish Demand Outlook

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, Feb 11 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Wednesday amid bearish expectations over palm oil demand in the coming months, a trader said.

Iceberg X Sdn Bhd proprietary trader David Ng said declining soybean oil prices on the Chicago Board of Trade (CBOT) also dampened palm oil demand. "The concern over eroding competitiveness with other vegetable oils remains a major point for the bearish call. We see CPO prices supported above RM4,000 per tonne, with resistance at RM4,150,” he told Bernama.

At the close of trading, the February 2026 and March 2026 contracts lost RM35 each to RM4,003 and RM4,035 per tonne, respectively, while the April 2026 contract fell RM34 to RM4,061.

The May 2026 contract declined RM26 to RM4,074 per tonne, the June 2026 contract went down RM24 to RM4,075, and the July 2026 contract retreated RM21 to RM4,071.

Trading volume increased slightly to 73,729 lots from 73,171 on Tuesday, while open interest edged down to 218,271 contracts from 218,595 previously.

The physical CPO price for February South rose RM20 to RM4,120 per tonne.

-- BERNAMA