Kuala Lumpur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Friday, buoyed by stronger export demand in October.

According to BERNAMA News Agency, the firmer energy prices also contributed to positive market sentiment, despite record-high domestic inventories that kept gains in check. David Ng, a proprietary trader with Iceberg X Sdn Bhd, noted that higher energy prices could increase biodiesel demand, thereby supporting CPO demand as it is a key feedstock for biodiesel production.

Cargo surveyor Amspec Agri Malaysia reported a 37.73 percent increase in Malaysia's palm oil exports, amounting to 134,760 tonnes, between October 1-10, totaling 491,954 tonnes compared to 357,194 tonnes in the same period in September. Similarly, Intertek Testing Services, an independent inspection company, noted a 33.51 percent increase in exports, totaling 525,071 tonnes during the same period, up from 393,295 tonnes in the previous month.

At the market close, the November 2026 contract rose RM60 to RM4,536 per tonne, December 2026 increased RM57 to RM4,676 per tonne, and January 2027 climbed RM44 to RM4,769 per tonne. The February 2027 contract gained RM37 to RM4,852 per tonne, March 2027 rose RM27 to RM4,926 per tonne, and April 2027 improved RM17 to RM4,984 per tonne.

Trading volume decreased slightly to 133,428 lots from 133,700 on Thursday, while open interest expanded to 339,364 contracts from 333,964 previously.