CPO futures retreat amid stockpile and export concerns
Intertek Testing Services estimated September palm oil exports at about 1.13 million tonnes, down 17.1 per cent month-on-month.
Crude palm oil (CPO) futures ended trading lower on Bursa Malaysia Derivatives on Oct 2, with concerns about increasing domestic stocks weighing on sentiment. Contracts for October 2026 through March 2027 recorded declines ranging from RM19 to RM48.
David Ng, a proprietary trader at Iceberg X Sdn Bhd, attributed the weakness partly to sluggish export demand. He cited an Intertek Testing Services (ITS) estimate of about 1.13 million tonnes for Malaysia’s September palm oil exports, a decline of 17.1 per cent month-on-month.
Ng told Bernama that weaker overseas demand could increase domestic stock levels. He also said lower soybean oil prices put pressure on the wider vegetable oils market.
- October 2026: RM4,354 per tonne, down RM20.
- November 2026: RM4,441 per tonne, down RM20.
- December 2026: RM4,535 per tonne, down RM19.
- January 2027: RM4,627 per tonne, down RM25.
- February 2027: RM4,709 per tonne, down RM36.
- March 2027: RM4,786 per tonne, down RM48.
Turnover increased from Thursday’s 106,630 lots to 164,637 lots. Open interest moved lower, reaching 334,658 contracts compared with 341,306 previously.
In the physical market, October South CPO was priced at RM4,400 per tonne after a RM100 decline.
