Hanoi:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended mostly higher on Monday. This increase was driven by stronger export demand, as indicated by the latest October cargo surveyor estimates.

According to BERNAMA News Agency, Cargo surveyor Amspec Agri Malaysia reported a significant rise in the country's palm oil exports, which expanded by 37.73 percent to 491,954 tonnes from 357,194 tonnes during the period from October 1-10 compared to the same period in September. Similarly, independent inspection company Intertek Testing Services noted a 33.51 percent increase in exports, reaching 525,071 tonnes during October 1-10, up from 393,295 tonnes in the same timeframe in September.

Despite record-high inventories and production figures from the Malaysian Palm Oil Board (MPOB), market optimism remained strong, as noted by Iceberg X Sdn Bhd proprietary trader David Ng. The MPOB reported that CPO stocks rose by 31.88 percent to 2.16 million tonnes in September from 1.64 million tonnes in August. Additionally, CPO output increased by 16.48 percent to 2.11 million tonnes in the same month.

At the end of trading, the October 2026 contract saw a decrease of RM162 to RM4,200 per tonne, while the November 2026 and December 2026 contracts increased by RM33 to RM4,498 per tonne and RM45 to RM4,637 per tonne, respectively. The January 2027 contract rose by RM49 to RM4,758 per tonne, February 2027 gained RM52 to RM4,862 per tonne, and March 2027 advanced RM53 to RM4,955 per tonne.

Trading volume on Monday dropped to 72,256 lots from 145,207 on Friday, and open interest declined to 264,065 contracts from 337,867 previously. Meanwhile, the physical CPO price for October South increased by RM50 to RM4,500 per tonne.