CPO Futures Expected To Trade Sideways Next Week Amid Chinese New Year Holidays
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Feb 14 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade sideways with bearish bias next week in view of the Chinese New Year holidays, with both China and Malaysia markets closed for the celebration.
Proprietary trader David Ng of Iceberg X Sdn Bhd said the market is likely to be in a bearish bias amid persistently high stock levels and weak demand in recent weeks.
He said the subdued buying interest from key importing countries, coupled with ample inventories, would continue to cap upside momentum despite supportive cues from rival edible oils.
“We expect prices to trade between RM3,950 and RM4,180 per tonne next week,” he told Bernama.
Meanwhile, Interband group of companies senior palm oil trader Jim Teh said CPO futures will trade bearish amid slower trading activities due to the extended Chinese New Year holidays.
He said the long festive break has led to temporary closures of many palm oil mills and factories, while a large number of international traders are also away on extended leave.
Teh said stock levels in both Malaysia and Indonesia remain ample because of the slow physical demand.
However, he noted that some buying interest is still expected from key importing regions such as Pakistan, India, Middle East countries and European Union.
"Therefore, CPO price will be between RM3,700 to RM3,800 per tonne for next week," he said.
On a Friday-to-Friday basis, the February 2026 contract declined RM132 to RM3,950 per tonne, March 2026 slipped RM84 to RM4,037 and April 2026 shrank by RM104 to RM4,050.
The May 2026 contract decreased RM117 to RM4,046 per tonne, June 2026 lost RM118 to RM4,040 and July 2026 was down RM115 to RM4,035.
The weekly trading volume increased to 392,823 lots from 274,729 lots last week, while open interest rose to 230,392 contracts from 219,059 contracts previously.
The new physical CPO price for February South was lower by RM80 at RM4,050 per tonne.
-- BERNAMA
