CPO Futures Close Mostly Higher On Stronger Export Estimates

By Zufazlin Baharuddin

KUALA LUMPUR, Oct 12 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed mostly higher on Monday, supported by stronger export demand reflected in the latest October cargo surveyor estimates, said a trader.

According to cargo surveyor Amspec Agri Malaysia, the country's palm oil exports expanded 37.73 per cent, or 134,760 tonnes, to 491,954 tonnes during Oct 1-10 from 357,194 tonnes in the corresponding period of September.

Meanwhile, independent inspection company Intertek Testing Services reported that exports increased 33.51 per cent, or 131,776 tonnes, to 525,071 tonnes during Oct 1-10, compared with 393,295 tonnes during Sept 1-10.

Iceberg X Sdn Bhd proprietary trader David Ng told Bernama that market optimism remained strong despite record-high inventories and production reported by Malaysian Palm Oil Board (MPOB).

MPOB reported today that CPO stocks increased 31.88 per cent, or 522,905 tonnes, to 2.16 million tonnes in September from 1.64 million tonnes in August.

On production, MPOB said CPO output rose 16.48 per cent, or 299,451 tonnes to 2.11 million tonnes in September. 

At the close, the October 2026 contract fell RM162 to RM4,200 per tonne, while the November 2026 contract  increased RM33 to RM4,498 per tonne and the December 2026 contract rose RM45 to RM4,637 per tonne.

Meanwhile, the January 2027 contract climbed RM49 to RM4,758 per tonne, February 2027 gained RM52 to RM4,862 per tonne, and March 2027 advanced RM53 to RM4,955 per tonne.

Trading volume slipped to 72,256 lots from 145,207 on Friday, while open interest declined to 264,065 contracts from 337,867 previously.

The physical CPO price for October South rose RM50 to RM4,500 per tonne.

-- BERNAMA