Palm Oil Price Forecast for the First Week of May 2026

A trader expects crude palm oil futures on Bursa Malaysia Derivatives to trade with an upward bias next week.

David Ng, a trader at Iceberg X Sdn Bhd, said continued support from crude oil prices is likely to improve market sentiment. He expects prices to range between RM4,500 and RM4,650 per tonne next week.

On a weekly basis, the May 2026 contract fell RM13 to RM4,504 per tonne. June 2026 declined RM25 to RM4,540, while July 2026 dropped RM27 to RM4,570 per tonne.

August 2026 fell RM29 to RM4,588 per tonne, September 2026 declined RM28 to RM4,599, and October 2026 eased RM13 to RM4,609 per tonne.

Weekly trading volume fell to 315,237 contracts from 481,774 in the previous week, while open interest rose to 259,891 contracts. The physical crude palm oil price for May in the southern region declined RM20 to RM4,550 per tonne.

The market was closed on May 1 for the Labour Day holiday and trading was scheduled to resume on May 4.

Source: Bernama

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