CPO FUTURES END LOWER ON STRONGER RINGGIT

By K. Naveen Prabu

KUALA LUMPUR, Nov 7 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today on a stronger ringgit, according to palm oil trader David Ng.

He said concerns over rising output in the coming weeks also dampened the market sentiment.

“We see support at RM4,100 per tonne and resistance at RM4,300,” Ng told Bernama.

Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said CPO futures failed to retain the previous day’s gains as selling pressure persisted, although prices continued to hold above the key RM4,100 support level.

“Expectations of strong production growth against lacklustre export demand were adding to bearish sentiment, with traders projecting that end-month stocks could rise to a six-year high,” he said.

At the close, the spot-month November 2025 contract fell RM34 to RM4,080 a tonne, while December 2025 declined RM35 to RM4,082 a tonne and January 2026 slipped RM40 to RM4,109 a tonne.

Meanwhile, February 2026 eased RM43 to RM4,137 a tonne, March 2026 dropped RM40 to RM4,157 a tonne, and April 2026 shed RM36 to RM4,168 a tonne.

Total volume decreased to 81,478 lots from 85,351 lots on Thursday, while open interest increased to 264,821 contracts from 262,069 contracts previously.

The physical CPO price for November South decreased by RM30 to RM4,120 a tonne.

-- BERNAMA