CPO Futures End Lower, Benchmark Contract Breaks Below RM4,300 A Tonne

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Nov 6 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower today, with the benchmark January 2027 contract breaking below RM4,300 per tonne.

Weaker Dalian Commodity Exchange (DCE) RBD palm olein and Chicago Board of Trade (CBOT) soy oil futures, along with concerns over Malaysia’s record-high palm oil inventories, weighed on prices, said Iceberg X Sdn Bhd proprietary trader David Ng. 

“We see prices remaining unlikely to recover above RM4,400 per tonne in the coming week, given the stock buildup over recent months. 

“We see immediate support around RM4,300 per tonne and resistance at RM4,400 per tonne, with traders remaining cautious ahead of the upcoming Malaysian Palm Oil Board’s October palm oil supply and demand report on Nov 10,” he told Bernama. 

At the close, the November 2026 contract eased RM77 to RM4,049 per tonne, the December 2026 contract declined RM132 to RM4,147 per tonne, the January 2027 contract fell RM119 to RM4,258 per tonne, the February 2027 contract slipped RM106 to RM4,356, the March 2027 contract dropped RM96 to RM4,437 per tonne, and the April 2027 contract weakened RM90 to RM4,497 per tonne.

Trading volume strengthened to 131,922 lots from 97,181 lots on Thursday, while open interest fell to 332,934 contracts from 336,631 contracts previously.

The physical CPO price for November South shed RM120 to RM4,100 per tonne.

Bursa Malaysia and its subsidiaries will be closed on Monday, Nov 9, for the Deepavali replacement holiday.

-- BERNAMA