Palm Oil Price Outlook For Fourth Week Of October

Palm oil trader David Ng said crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade on a downward trend next week, weighed down by rising stock levels in Malaysia.
He explained:

"We expect prices to move between 4,400 and 4,580 ringgit per tonne."

Meanwhile, Interband Group's senior palm oil trader, Jim Teh, said the market could see a technical correction, particularly given the shortened trading week due to the Diwali holiday.
He added:

"We expect crude palm oil futures to trade between 4,100 and 4,200 ringgit per tonne."

On stocks, Teh noted that inventories in both Malaysia and Indonesia remain at strong levels.
He also said physical demand may come from China, Pakistan, Middle Eastern countries and Europe, and to a lesser extent from the United States.

On a weekly basis:

• The November 2025 contract (the new spot month) fell by 57 ringgit to 4,439 ringgit per tonne.
• The December 2025 contract dropped by 68 ringgit to 4,476 ringgit per tonne.
• The January 2026 contract fell by 52 ringgit to 4,513 ringgit per tonne.
• The February 2026 contract dropped by 29 ringgit to 4,527 ringgit per tonne.
• The March 2026 contract fell by 12 ringgit to 4,518 ringgit per tonne.
• The April 2026 contract (the new month) settled at 4,496 ringgit per tonne.

Weekly trading volume rose to 510,118 lots, compared with 470,418 lots in the previous week, while open interest increased to 289,323 contracts from 282,064 previously.

The physical price of crude palm oil for October (South region) fell by 60 ringgit to 4,440 ringgit per tonne.

Source: Bernama