Lang
Crude palm oil futures on Bursa Malaysia Derivatives are expected to see profit-taking next week, with prices likely to trade between 4,200 and 4,300 Malaysian ringgit per tonne, according to one trader.
Jim Teh, senior palm oil trader at Interband Group of Companies, said current price levels are considered attractive, prompting some liquidation of speculative positions amid continuing geopolitical uncertainty.
Speaking to Bernama, he said: "Speculators are partially exiting the market because of the conflict situation in West Asia. Lower energy prices are also weighing on sentiment in the palm oil market."
He noted that physical demand for crude palm oil is expected to find support from major importing countries, including China, Pakistan, India, the European Union and the United States.
On a weekly basis, Friday to Friday, the April 2026 contract fell 254 ringgit to 4,491 ringgit per tonne, the May 2026 contract dropped 299 ringgit to 4,500 ringgit per tonne, and the June 2026 contract declined 301 ringgit to 4,538 ringgit per tonne.
The July 2026 contract also fell 293 ringgit to 4,551 ringgit per tonne, August 2026 dropped 285 ringgit to 4,539 ringgit per tonne, and September 2026 declined 269 ringgit to 4,520 ringgit per tonne.
Weekly trading volume fell to 391,313 lots, compared with 518,950 lots the previous week, while open interest rose to 259,223 contracts from 252,147 previously.
The physical price of crude palm oil for April delivery in the southern region fell 180 ringgit to 4,580 ringgit per tonne.
Source: Bernama