CPO futures rise as export demand and energy prices lend support
Export surveyors reported increases of 37.73 per cent and 33.51 per cent for Oct 1-10 compared with the corresponding September period.
Stronger October export demand helped crude palm oil (CPO) futures recover on Bursa Malaysia Derivatives on Oct 16, with all six reported contracts finishing higher. Gains ranged from RM17 to RM60 per tonne.
David Ng, proprietary trader at Iceberg X Sdn Bhd, told Bernama that higher energy prices also supported sentiment, but record-high domestic stocks restricted gains. He said more expensive energy could lift demand for biodiesel and, consequently, CPO as a feedstock.
Amspec Agri Malaysia put palm oil exports for Oct 1-10 at 491,954 tonnes, against 357,194 tonnes in the corresponding September period. That represented an increase of 134,760 tonnes, or 37.73 per cent. Intertek Testing Services recorded 525,071 tonnes, compared with 393,295 tonnes for Sept 1-10, an increase of 131,776 tonnes, or 33.51 per cent.
- November 2026 settled at RM4,536 per tonne, up RM60; December 2026 ended at RM4,676 per tonne, up RM57.
- January 2027 finished at RM4,769 per tonne, gaining RM44; February 2027 closed at RM4,852 per tonne, gaining RM37.
- March 2027 settled at RM4,926 per tonne, rising RM27; April 2027 ended at RM4,984 per tonne, rising RM17.
Trading totalled 133,428 lots, down from Thursday’s 133,700 lots. Open interest reached 339,364 contracts, compared with 333,964 previously. In the physical market, October South CPO stood at RM4,500 per tonne after a RM60 increase.
