Crude Palm Oil Price Outlook For Second Week Of July

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade within a sideways range next week, as market players await key industry data for clearer direction on the market's trend.

Palm oil trader David Ng said the market is likely to remain confined to a narrow range, with traders adopting a cautious stance ahead of the Malaysian Palm Oil Board's (MPOB) June supply-demand report, due for release on 10 July 2025.

"We expect prices to trade sideways between 3,980 and 4,150 ringgit per tonne next week, pending fresh data to guide the market," he added.

In the same vein, Sathia Varqa, senior analyst at Fastmarkets Palm Oil Analytics, said the market will closely watch the MPOB report to gauge the extent of the expected decline in production and its impact on stock levels at the end of the month.

He explained: "Market participants will be very keen on MPOB's June supply-demand report to assess production, export and stock trends, which will set the market's tone in the coming weeks."

Weekly Contract Performance:

• The July 2025 contract fell 9 ringgit to close at 3,995 ringgit per tonne.
• The August 2025 contract dropped 48 ringgit to 4,053 ringgit per tonne.
• The September 2025 contract rose 51 ringgit to 4,062 ringgit per tonne.
• The October 2025 contract gained 53 ringgit to reach 4,064 ringgit per tonne.
• The November 2025 contract added 48 ringgit to close at 4,065 ringgit per tonne.
• The December 2025 contract climbed 41 ringgit to 4,072 ringgit per tonne.

Weekly Trading Volume and Open Interest:

• Weekly trading volume fell to 253,182 lots, compared with 267,618 lots the previous week.
• Open interest, however, rose to 226,243 contracts, compared with 224,560 previously.

Spot Price for Crude Palm Oil in Southern Malaysia for July:

• The spot price rose 30 ringgit to 4,050 ringgit per tonne.

Source: Bernama