CPO Futures Seen Trading Higher Next Week On Stronger Demand Outlook
By K. Naveen Prabu
KUALA LUMPUR, March 28 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expcted to trade higher next week, supported by stronger demand expectations, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said the United States (US)-Iran conflict has raised expectations of stronger palm oil demand.
“Next week, we expect prices to range between RM4,500 and RM4,680 per tonne,” he told Bernama.
On a weekly basis, the April 2026 contract fell RM40 to RM4,540 per tonne, May 2026 slipped RM8 to RM4,611 per tonne, while June 2026 edged up RM20 to RM4,631 per tonne.
Meanwhile, the July 2026 contract gained RM40 to RM4,620 per tonne, August 2026 rose RM55 to RM4,597 per tonne, and September 2026 advanced RM66 to RM4,570 per tonne.
The weekly trading volume surged to 363,166 lots from 136,763 lots last week, while open interest decreased to 236,911 contracts from 237,306 contracts previously.
The physical CPO price for March South dropped by RM40 to RM4,560 a tonne.
-- BERNAMA