Lang
Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade sideways next week amid limited market catalysts and a shorter trading week.
Palm oil trader David Ng said the absence of fresh trade cues would likely keep the market within a tight range in the near term.
"We expect the commodity to trade between 3,750 and 3,950 ringgit per tonne," he added.
Cargo surveyors expect Malaysian palm oil product exports for the period from 1 to 25 May to rise by between 7.3% and 11.6% compared with the same period the previous month.
Meanwhile, Dr Sathia Varqa, senior analyst at Palm Oil Analytics Fastmarkets, said market participants would closely watch May supply and demand estimates from news agency surveys, as well as full May production data from the Malaysian Palm Oil Association, including figures due from the Malaysian Palm Oil Board (MPOB) on 10 June.
On a Friday-to-Friday weekly basis, the benchmark June 2025 contract rose by 64 ringgit to 3,888 ringgit per tonne, while the July 2025 contract gained 55 ringgit to reach 3,891 ringgit per tonne, and the August 2025 contract added about 51 ringgit to reach 3,878 ringgit.
The September 2025 contract rose by 49 ringgit to 3,870 ringgit per tonne, the October 2025 contract gained 46 ringgit to reach 3,870 ringgit, while the November 2025 contract climbed 43 ringgit to reach 3,874 ringgit.
Weekly trading volume fell to 281,987 contracts, compared with 331,960 the previous week, while open interest declined to 241,994 contracts from 244,075.
The physical price of crude palm oil in southern Malaysia for June rose by 50 ringgit to 3,930 ringgit per tonne.
Bursa Malaysia and its subsidiaries will be closed on 2 June 2025 in observance of the birthday of the King of Malaysia, His Majesty Sultan Ibrahim ibn Almarhum Sultan Iskandar, with operations resuming on 3 June 2025.
Source: Bernama