CPO futures fall as Budget 2027 omits export duty waiver
Trading volume eased to 145,207 lots, while open interest rose to 337,867 contracts.
Crude palm oil (CPO) futures ended trading lower on Bursa Malaysia Derivatives on Oct 9, with the October and November 2026 contracts each losing RM86. The declines followed Budget 2027's lack of an announcement on a proposed export duty waiver.
David Ng, a proprietary trader at Iceberg X Sdn Bhd, told Bernama that expectations of a possible Malaysian waiver had supported optimism, which faded when the announcement did not materialise. He put support at RM4,500 and resistance at RM4,680.
The October 2026 contract settled at RM4,362 per tonne and November 2026 at RM4,465 per tonne. December 2026 finished at RM4,592 per tonne after a RM69 decline.
For January 2027, the closing price was RM4,709 per tonne, down RM58. February 2027 ended at RM4,810 after losing RM44, while March 2027 closed at RM4,902, a RM23 decline.
Volume totalled 145,207 lots, compared with Thursday's 160,977 lots. Open interest increased from 333,864 contracts to 337,867 contracts. In the physical market, October South CPO was priced at RM4,450 per tonne after a RM10 fall.
