a day ago
- Business
- New Straits Times
CPO futures likely to trade sideways next week due to lack of fresh cues
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade sideways next week owing to a lack of fresh market cues.
Palm oil trader David Ng said there aren't any strong new factors to push prices significantly higher or lower.
"There aren't any major catalysts at the moment to push prices sharply in either direction, so we expect the market to remain range-bound for now as traders wait for fresh leads.
"Prices are expected to trade within the range of RM3,900 to RM4,100 per tonne," he told Bernama.
On a weekly basis, the July 2025 contract fell RM85 to RM3,986 per tonne, while August 2025 dropped RM102 to RM4,005 per tonne. September 2025 declined RM107 to RM4,011 per tonne, October 2025 eased RM104 to RM4,011 per tonne, November 2025 slipped RM101 to RM4,017 per tonne, and December 2025 decreased RM95 to RM4,031 per tonne.
The weekly trading volume decreased to 267,618 lots from 401,206 lots in the previous week, while open interest went down to 224,560 contracts from 231,757 contracts.
The physical CPO price for July South decreased by RM100 to RM4,020 per tonne.
