CPO Futures End Higher On Strong Export Demand
By K. Naveen Prabu
KUALA LUMPUR, Aug 10 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, supported by healthy overseas demand for Malaysian palm oil.
Iceberg X Sdn Bhd proprietary trader David Ng said traders interpret the strong export numbers as a sign of stronger demand for the commodity.
Nevertheless, he said gains were capped by rising production and stock levels in the country after the Malaysian Palm Oil Board (MPOB) reported that palm oil stocks increased by 3.3 per cent to 2.6 million tonnes.
“We see prices supported above RM4,680 per tonne and resistance at RM4,800 per tonne,” he told Bernama.
At the close, the August 2026 contract increased by RM18 to RM4,545 per tonne, September 2026 rose by RM25 to RM4,631 per tonne, and October 2026 gained RM46 to RM4,723 per tonne.
The November 2026 contract advanced RM55 to RM4,790 per tonne, December 2026 climbed RM51 to RM4,836 per tonne, while January 2027 added RM43 to RM4,872 per tonne.
Trading volume decreased to 97,133 lots from 112,427 lots last Friday, while open interest slipped to 313,462 contracts from 314,839 contracts previously.
The physical CPO price for August South increased by RM20 to RM4,560 per tonne.
-- BERNAMA