Lang
Crude palm oil futures on Bursa Malaysia Derivatives are expected to trend lower next week amid profit-taking, according to one trader.
Jim Teh, senior palm oil trader at Interband Group of Companies, said prices are likely to trade between 4,200 and 4,300 Malaysian ringgit per tonne. He added that physical demand for the commodity is expected to come from China, Pakistan, India and possibly several countries in the Middle East and Europe.
On a weekly basis, Friday to Friday, the May 2026 contract rose 131 ringgit to 4,517 ringgit per tonne, the June 2026 contract gained 143 ringgit to 4,565 ringgit per tonne, and the July 2026 contract climbed 147 ringgit to 4,597 ringgit per tonne. The August 2026 contract rose 160 ringgit to 4,617 ringgit per tonne, September 2026 jumped 178 ringgit to 4,627 ringgit per tonne, and October 2026 advanced 187 ringgit to 4,622 ringgit per tonne.
Weekly trading volume rose to 481,774 lots from 429,556 lots the previous week, while open interest fell to 258,789 contracts from 260,192 previously. The physical price of crude palm oil for May delivery in the southern region jumped 110 ringgit to 4,570 ringgit per tonne.
Source: Bernama