Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are anticipated to exhibit a bearish bias next week due to weakness in the crude oil market, as stated by a trader.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng highlighted that market sentiment is also influenced by policy uncertainty in Indonesia regarding palm oil exports. He forecasts that prices will fluctuate between RM4,350 and RM4,550 per tonne next week.

Interband Group of Companies senior palm oil trader Jim Teh noted that the upcoming week will be a short trading week due to public holidays. He anticipates profit-taking activities, which might result in a trading range of RM4,200 to RM4,300 per tonne. Teh considers this a favorable price range.

Citing the Malaysian Palm Oil Board, Teh pointed out that Malaysia is experiencing a heavy stock position of 2.30 million tonnes in April. He remarked that physical buyers are likely to emerge from regions such as China, India, Pakistan, the Middle East, the European Union, and the United States due to the ample supply.

On a Friday-to-Friday basis, the June 2026 contract saw an increase of RM40 to RM4,430 per tonne, while the July 2026 contract rose by RM43 to RM4,463 per tonne. The August 2026 contract gained RM49, bringing it to RM4,486 per tonne. Likewise, the September 2026 contract went up by RM53 to RM4,502 per tonne, the October 2026 contract climbed RM60 to RM4,525 per tonne, and the November 2026 contract was priced at RM4,552 per tonne.

The weekly trading volume surged to 614,453 lots from 493,990 the previous week, although open interest slightly decreased to 280,499 contracts from 285,554. The physical CPO price for May South saw an increase of RM60, reaching RM4,500 per tonne.