22/02/2025 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade sideways with a slight bearish basis amid profit-taking activities next week, said palm oil trader David Ng.

Ng told Bernama that prices would likely range between RM4,500 per tonne and RM4,800 per tonne.

Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh expects the market to trade between RM4,000 per tonne and RM4,300 per tonne next week.

He opined that speculators may influence prices, leading to a surge in CPO futures.

“As a result, India has cancelled its crude palm oil and related product purchases from Malaysia, citing high prices as the main reason.

“This price movement is largely driven by speculative trading,” he added.

This week, the CPO market traded mostly higher, supported by stronger Dalian palm olein prices, firmer soybean oil performance, and rising crude oil prices.

On a Friday-to-Friday basis, the new contract month of March 2025 rose RM136 to RM4,836 per tonne, April 2025 gained RM170 to RM4,762 per tonne, and May 2025 added RM165 to RM4,664 per tonne.

June 2025 climbed RM144 to RM4,548 per tonne, and July 2025 advanced RM120 to RM4,441 per tonne, while August 2025 stood at RM4,367 per tonne.

Weekly trading volume surged to 435,333 lots from 430,283 lots the previous week, while open interest widened to 243,818 contracts from 230,867 contracts.

The physical CPO price for March South rose RM100 to RM4,900 per tonne. 

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