CPO FUTURES EXTEND LOSSES DUE TO BEARISH FACTORS, STRONGER RINGGIT

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Dec 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives continued to close lower on Thursday, driven by a confluence of bearish factors, while the stronger ringgit against the US dollar exerted additional downward pressure on ringgit-denominated CPO contracts.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani saidaid the downturn was also primarily driven by concerns over rising stock levels and subdued export demand amid the absence of fresh destination buying.

“Weakness in the broader energy complex, along with a pronounced selloff in Chicago Board of Trade (CBOT) soyoil futures and South American crude degummed soybean oil (CDSBO) free-on-board markets overnight contributed to the decline,” he told Bernama.

Meanwhile, palm oil trader David Ng said the commodity saw a sharp decline at the close due to lower soybean oil prices and concerns over rising stock levels in the country.

“We see support well above RM4,000 and resistance at RM4,180,” Ng told Bernama.

At the close, the December 2025 contract eased RM25 to RM4,065 per tonne, and January 2026 and April 2026 contracts fell RM50 to RM4,090 per tonne and RM4,123 per tonne, respectively.

February 2026 contract declined RM48 to RM4,105 per tonne, March 2026 contract was RM46 lower at RM4,119 per tonne, and May 2026 contract fell by RM43 to RM4,122 per tonne.

Total volume fell to 61,647 lots from 68,758 yesterday, while open interest edged down to 268,825 contracts from 272,607 previously.

The physical CPO price for December South fell by RM30 to RM4,100 per tonne.

-- BERNAMA