CPO futures retreat as January benchmark drops below RM4,300
The January 2027 contract settled at RM4,258 per tonne, with a trader citing weaker overseas vegetable oil markets and inventory concerns.
A RM119 decline left the January 2027 crude palm oil (CPO) contract at RM4,258 per tonne on Nov 6. The benchmark breached RM4,300 as the futures market on Bursa Malaysia Derivatives finished lower.
Iceberg X Sdn Bhd proprietary trader David Ng linked the losses to weakness in RBD palm olein futures traded on the Dalian Commodity Exchange (DCE) and CBOT soy oil futures. Concern about record-high Malaysian palm oil inventories also pressured prices, he told Bernama.
Ng said caution among traders preceded the Malaysian Palm Oil Board’s report covering October palm oil supply and demand, due on Nov 10.
Among other contracts, December 2026 finished at RM4,147 per tonne after losing RM132. March 2027 settled at RM4,437 per tonne, a RM96 decline, while April 2027 ended at RM4,497 per tonne after falling RM90.
Turnover reached 131,922 lots, compared with 97,181 lots previously. Open interest moved down from 336,631 contracts to 332,934 contracts. November South physical CPO was RM120 lower at RM4,100 per tonne.
The Deepavali replacement holiday falls on Nov 9, when Bursa Malaysia, including its subsidiaries, will be shut.
