Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are anticipated to trade with a profit-taking bias next week as the conflict between the United States and Iran appears to be cooling. Interband Group of Companies senior palm oil trader Jim Teh noted that the trading range is likely to be between RM4,300 and RM4,400 per tonne. He mentioned that physical demand is expected primarily from China, India, Pakistan, the Middle East, the European Union, and, to a lesser extent, the US. "As far as physical stocks are concerned, Malaysia and Indonesia have ample stocks. There is no shortage at the moment," Teh conveyed to Bernama.

According to BERNAMA News Agency, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa stated that market participants will be closely monitoring the Malaysian Palm Oil Board's (MPOB) July supply and demand data, scheduled for release on August 10, along with palm oil export data for August 1-10. On a Friday-to-Friday basis, the August 2026 contract saw a slight decrease of RM4 to RM4,527 per tonne, while the September 2026 contract edged up by RM2 to RM4,606 per tonne, and the October 2026 contract increased by RM34 to RM4,677 per tonne.

The November 2026 contract saw an uptick of RM60 to RM4,735 per tonne, December 2026 climbed RM81 to RM4,785 per tonne, and January 2027 rose RM97 to RM4,829 per tonne. Weekly trading volume increased to 484,473 lots from 363,441 lots in the preceding week, while open interest dropped to 112,427 contracts from 301,947 contracts previously. The physical CPO price for August South increased by RM10 to RM4,540 per tonne.