CPO Futures End Lower On Profit-taking

By Siti Noor Afera Abu

KUALA LUMPUR, Sept 9 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower today on profit-taking as the market lost momentum, according to industry experts.

Destination demand has slowed, and palm oil is at a tight spread over soybean oil, shifting demand to soybean oil.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the rise in stocks is driven by a slight decrease in production and a further drop in exports.

“The market is also waiting for the Malaysian Palm Oil Board’s August 2026 releases on Thursday, where expectations of Malaysian August-end palm oil stocks to be seen up to 2.73-2.78 million tonnes, up by four to six per cent from July 2026,” he told Bernama.

However, Bagani said Indonesian palm oil oct reference price may rise, placing Indonesian palm oil export duties in a higher bracket, and net payable levies would also rise.

“It is positive for Malaysian palm oil prices,” he said.

Iceberg X Sdn Bhd proprietary trader David Ng, however, said stronger energy prices are capping downward pressure.

“We see prices supported above RM4,900 per tonne and resistance at RM5,080 per tonne,” he added.

At the close, the September 2026 and October 2026 contracts fell RM19 each to RM4,669 and RM4,787 per tonne, respectively, while the November 2026 contract slipped RM10 to RM4,966 per tonne.

The December 2026 contract was down RM6 to RM5,109 per tonne, January 2027 declined RM4 to RM5,220 per tonne, and February 2027 slid RM1 to RM5,300 per tonne.

Trading volume rose to 337,207 lots from 120,701 lots on Tuesday, while open interest increased to 797,610 contracts from 336,966 contracts previously.

The physical CPO price for September South fell RM20 to RM4,680 per tonne.

-- BERNAMA