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A trader has predicted that crude palm oil (CPO) futures on Bursa Malaysia Derivatives will see profit-taking next week, coinciding with the return of international traders from the Chinese New Year holiday.
Jim Teh, senior palm oil trader at Interband Group of Companies, said futures are expected to trade between 3,800 and 3,900 ringgit per tonne next week as international participants return and reassess their positions.
He explained: "Crude palm oil stocks remain plentiful in both Malaysia and Indonesia, providing ample supply for the spot market."
He told Bernama: "Buying interest in the spot market is expected to come mainly from India, Pakistan, the Middle East and the European Union, with the United States contributing to a lesser extent."
On a weekly basis, Friday to Friday, the March 2026 contract rose by 113 ringgit to 4,063 ringgit per tonne, while the April 2026 contract gained 50 ringgit to reach 4,087 ringgit per tonne, and the May 2026 contract advanced 42 ringgit to settle at 4,092 ringgit per tonne.
The June 2026 contract also rose by 50 ringgit to 4,096 ringgit per tonne, the July 2026 contract added around 60 ringgit to reach 4,100 ringgit per tonne, while the August 2026 contract gained 64 ringgit to settle at 4,099 ringgit per tonne.
Weekly trading volume shrank to 194,724 lots, compared with 392,823 lots the previous week, while open interest fell to 228,011 contracts from 230,392 earlier.
The spot price for March crude palm oil in the southern region rose by 50 ringgit to 4,100 ringgit per tonne.
Source: Bernama