CPO Futures Extend Losses On Production Concerns
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Oct 27 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives extended losses for the second consecutive day to end lower on Tuesday due to expectations of strong October production despite improving export demand.
Iceberg X Sdn Bhd proprietary trader David Ng said concerns over elevated Malaysian inventories had also weighed on market sentiment.
“We see support around RM4,650 per tonne, while resistance is expected at RM4,850, with market direction remaining sensitive to soybean oil and crude oil prices,” he told Bernama.
At the close, the November 2026 contract fell RM96 to RM4,462 per tonne, the December 2026 contract dropped RM94 to RM4,610 and January 2027 slipped RM88 to RM4,701.
The February 2027 contract shed RM78 to RM4,795 per tonne, March 2027 eased RM69 to RM4,879, and April 2027 dipped RM61 to RM4,937.
Trading volume rose to 101,228 lots from 54,448 on Monday, while open interest edged down to 342,815 contracts from 342,858 previously.
The physical CPO price for November South slid RM40 to RM4,490 per tonne.
-- BERNAMA