CPO Futures Extend Gains On Strong Soybean Oil, DCE Performance

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, April 22 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives continue to close higher on Wednesday, supported by strong performance in related vegetable oils on the Chicago Board of Trade (CBOT) and Dalian Commodity Exchange (DCE).

Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said soybean oil posted a strong rise on the CBOT, tracking the rise in crude oil prices following renewed closure of the Strait of Hormuz.

“Optimism over the Indonesian B50 biodiesel programme set for implementation on July 1, 2026 was also supporting higher Malaysian prices yesterday and today,” he told Bernama.

Sathia said that Malaysia’s exports are expected to decline in April, with cargo surveyors reporting lower shipments for the first 20 days of the month.

According to Intertek Testing Services, exports fell to 884,273 tonnes from 1,191,962 tonnes previously, a drop of 307,689 tonnes, or 25.81 per cent, while AmSpec Agri Malaysia estimated shipments at 868,281 tonnes compared with 1,166,586 tonnes, down 298,305 tonnes, or 25.57 per cent.

Meanwhile, Iceberg X Sdn Bhd proprietary trader David Ng said prices are expected to find support at RM4,550 per tonne and resistance at RM4,750.

At the close, the May 2026 contract was up RM58 to RM4,549 per tonne, June 2026 increased RM64 to RM4,599 per tonne, and July 2026 gained RM69 to RM4,628 per tonne.

The August 2026 contract edged up RM76 to RM4,640 per tonne, September 2026 added RM82 to RM4,639 per tonne, and October 2026 elevated RM82 to RM4,628 per tonne.

Trading volume fell to 89,195 lots from 115,871 lots on Tuesday, while open interest dwindled by 250,518 contracts from 253,316.

The physical CPO price for May South rose RM40 to RM4,590 per tonne.

-- BERNAMA