CPO Futures End Higher On Bargain-hunting, Gains In Related Vegetable Oils

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 12 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Thursday, supported by modest bargain-hunting and gains in related vegetable oil futures, a dealer said.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said stronger performances in related vegetable oil futures helped sustain buying interest in the palm oil market.

“Attention will be focused on the views and market outlook emerging from the Indonesian Palm Oil Association (GAPKI) conference, which is being held in Bali, Indonesia, on Nov 12-13,” he told Bernama.

Meanwhile, the discount of CPO to soybean oil has remained above US$100 per tonne over the past seven days, based on the CME Fastmarkets Cost and Freight (CFR) India benchmark price assessment, reflecting strong export prospects for palm oil.

At the close, the November 2026 and December 2026 contracts gained RM12 each to RM4,168 per tonne and RM4,293 per tonne, respectively, and the January 2027 contract added RM30 to RM4,440 per tonne.

The February 2027 contract rose to RM32 to RM4,556 per tonne, the March 2027 contract strengthened to RM35 to RM4,652 per tonne, and the April 2027 contract climbed to RM40 to RM4,719 per tonne.

Trading volume eased to 156,894 lots from 158,137 lots on Wednesday, while open interest rose to 337,840 contracts from 335,671 contracts previously.

The physical CPO price for November South gained RM30 to RM4,200 per tonne.

-- BERNAMA