Kuala lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to trade with a bearish bias in the upcoming week, influenced by elevated stock levels in Malaysia, according to palm oil trader David Ng. “We expect prices to move between RM4,400 and RM4,580 per tonne,” Ng stated.

According to BERNAMA News Agency, Interband Group of Companies’ senior palm oil trader Jim Teh suggested that the market could undergo a technical correction due to a shorter trading week resulting from the Deepavali holiday. Teh forecasts CPO futures to trade between RM4,100 and RM4,200 per tonne. He also highlighted that stockpiles in both Malaysia and Indonesia remain strong, with physical demand potentially arising from China, Pakistan, Middle Eastern countries, European countries, and to a lesser extent, the United States.

On a weekly basis, the new spot-month November 2025 decreased RM57 to RM4,439 a tonne, while December 2025 erased RM68 to RM4,476 a tonne, and January 2026 slipped RM52 to RM4,513 a tonne. February 2026 dropped RM29 to RM4,527 a tonne, and March 2026 edged down RM12 to RM4,518 a tonne, with the new month April 2026 contract standing at RM4,496 a tonne.

The weekly trading volume increased to 510,118 lots from 470,418 lots the previous week, while open interest rose to 289,323 contracts from 282,064. Additionally, the physical CPO price for October South fell RM60 to RM4,440 a tonne.