CPO Futures Close Lower On Lack of New Market Catalysts

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, July 17 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Friday in range-bound trade amid an absence of fresh market catalysts, a trader said.

Fastmarkets Palm Oil Analytics managing editor and senior analyst Dr Sathia Varqa said market sentiment was weighed down due to the absence of fresh fundamental drivers amid a mixed performance across competing vegetable oils. “Meanwhile, market participants are assessing the prospects of stronger July production and export volumes, leaving end-July stock levels as the key variable likely to guide price direction,” he told Bernama.

At the close, the spot-month August 2026 contract dropped RM8 to RM4,529 per tonne, while the September and October 2026 contracts fell RM9 each to RM4,565 and RM4,597, respectively.

The November 2026 contract eased RM7 to RM4,630 per tonne, December 2026 declined RM5 to RM4,663, and January 2027 edged down RM4 to RM4,697.

Trading volume dropped to 64,100 lots from 86,078 lots on Thursday, while open interest increased to 286,716 contracts from 284,166 contracts previously.

The physical CPO price for July South remained unchanged at RM4,540 per tonne.

-- BERNAMA