Kuala Lumpur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives saw a decline on Thursday, influenced by weaker soybean oil prices on the Chicago Board of Trade.

According to BERNAMA News Agency, David Ng, a proprietary trader with Iceberg X Sdn Bhd, mentioned that the market sentiment was further dampened by a decrease in palm oil exports in September. He noted that the reduced demand from major palm oil-importing countries also contributed to the market's sluggish performance.

Intertek Testing Services (ITS), a cargo surveyor, reported that Malaysia's palm oil exports dropped by 17.1% month-on-month in September, amounting to approximately 1.13 million tonnes.

Ng indicated that the price outlook shows support at around RM4,500 per tonne, with resistance at RM4,650. At the market close, the October 2026 contract fell by RM50 to RM4,374 per tonne. The November 2026 contract decreased by RM52 to RM4,461, and the December 2026 contract declined by RM56 to RM4,554.

Further declines were seen in the January 2027 contract, which slid by RM65 to RM4,652 per tonne, February 2027 dropped RM75 to RM4,745, and March 2027 lost RM85 to RM4,834. The trading volume reduced to 106,630 lots from 131,293 on Wednesday, with open interest falling to 341,306 contracts from 464,043 previously.

The physical CPO price for October South decreased by RM100, settling at RM4,500 per tonne.