CPO Futures likely to trade with slight downside bias next week
Palm oil trader David Ng noted that the market is currently entering a seasonally higher production period, which typically begins in April and extends through September or October -- a period during which output typically increases, leading to a corresponding rise in stock levels.
"We expect the commodity to trade between RM3,720 per tonne and RM3,950 per tonne," he told Bernama.
Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh expects the market to experience profit-taking, with prices likely to trade between RM3,700 per tonne and RM3,800 per tonne.
"Stock-wise, the market will be closely watching the Malaysian Palm Oil Board data, which is scheduled for release on June 10," he said.
In terms of demand, Teh noted that physical buying is expected from China, India, Pakistan, the Middle East, the European Union countries, and little buying from the United States.
"Production-wise, the good weather conditions suggest that CPO output is likely to increase," he added.
On a Friday-to-Friday basis, the spot-month June 2025 contract rose RM23 to RM3,911 per tonne, while July 2025 and August 2025 added RM39 each to RM3,930 per tonne and RM3,917 per tonne, respectively.
September 2025 rose RM36 to RM3,906 per tonne, October 2025 increased RM29 to RM3,899 per tonne, and November 2025 went up RM25 to RM3,899 per tonne.
The weekly trading volume advanced to 290,679 lots from 281,987 lots the previous week, while open interest edged down to 241,688 contracts from 241,994 contracts.
The physical CPO price for June South gained RM30 to RM3,960 per tonne.
-- BERNAMA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
2 hours ago
- Barnama
Malaysia's Financial Fundamentals Draw IMF Praise
REGION - SARAWAK > NEWS KUALA LUMPUR, July 23 (Bernama) -- Malaysia's financial strength and market flexibility support resilience against external shocks and capital outflows, according to the International Monetary Fund (IMF). These factors, including Malaysia's strong balance sheet, position the country well to navigate global financial volatility without major disruption, the IMF stated in its 2025 External Sector Report, released in Washington on Monday. The IMF said that Malaysia's net international investment position (NIIP) is expected to increase over the medium term, supported by projected current account surpluses. bootstrap slideshow 'Malaysia's NIIP has averaged about 2.6 per cent of gross domestic product (GDP) over the last decade, increasing to 5.4 per cent at the end of 2023, supported by strong current account surpluses during the pandemic that helped increase reserve assets,' said IMF. It highlighted that the NIIP then declined to -0.6 per cent of GDP at the end of last year because of an increase indirect and portfolio investment liabilities. At the same time, total external debt increased to 69.7 per cent of GDP at the end of 2024, compared to 68 per cent at the end of 2023, and remains manageable. One-third of the external debt is denominated in ringgit, which means it is not subject to valuation risks, the IMF noted. Additionally, short-term external debt, making up 42.8 per cent of the total external debt, is considered manageable. The IMF said this is primarily because most of it consists of intragroup borrowing among banks and corporations — an arrangement that tends to be stable — or trade credits that are backed by export earnings. It emphasised that Malaysia's external position in 2024 was assessed to be moderately stronger than the level implied by medium-term fundamentals and desirable policies. After falling in 2023 amid a challenging external environment, the country's current account surplus fell slightly in 2024, as higher intermediate and capital goods imports outweighed higher exports due to an upturn in the global semiconductor cycle, it added.
The Star
3 hours ago
- The Star
PJ school's gala fundraiser to celebrate past, empower future
Chew (front row, second from right) with the SMK Assunta Governors' Ball organising committee. SMK Assunta's board of governors is organising the school's first-ever Governors' Ball, a black-tie fundraising gala set for Aug 10 at Majestic Hotel Kuala Lumpur. The event aims to reconnect the wider Assunta community, including alumni, teachers, parents and long-time supporters for an evening of celebration and philanthropy. 'This event is not just about raising funds, it is really about celebrating the values that have defined Assunta for generations: integrity, service and unity,' said board chairman Datuk Kathleen Chew. 'We invite all who have been part of the Assunta story, to come together for a night to remember and to give back to the school that gave so much to us,' she said. All proceeds from the evening will go to the board's account and will be used to support structural repairs, school improvement works and long-term development projects. The fundraising dinner at 7pm will begin with cocktails at 6pm. Only full tables will be sold for the dinner, with donation tiers set at RM3,500 (bronze), RM5,000 (silver), RM8,000 (gold) and RM10,000 (platinum). There are 80 tables available for the gala dinner. In addition to table contributions, the board welcomes cash sponsorships and lucky draw prizes. The deadline for bookings and sponsorship confirmations is July 24. For details, call 016-260 8000 or 012-216 7181.
Barnama
4 hours ago
- Barnama
Data Centre Investment Surges To RM144.4 Bln By March 2025 -- MITI
BUSINESS KUALA LUMPUR, July 22 (Bernama) -- From 2021 to March 31, 2025, Malaysia recorded 25 approved investment projects in the data centre sector, with a total investment value of RM144.4 billion. According to records from the Malaysian Investment Development Authority (MIDA), MITI said these projects were approved under the Digital Ecosystem Acceleration Scheme (DESAC) and are expected to create high-skilled, high-income jobs. 'These investments are projected to generate 1,429 new jobs, with roles requiring specialised expertise such as engineers, data scientists, big data analysts, cybersecurity engineers, and information technology (IT) engineers. 'Over 50 per cent of these roles will be high-income jobs, offering salaries of more than RM5,000,' MITI said in a written reply published on Parliament's website today. The ministry was responding to a question from Aminolhuda Hassan (PH–Sri Gading), who asked MITI to detail job opportunities arising from the expanding data centre sector and the potential economic and labour market impacts. On that front, the ministry said it will carry out a survey to assess the economic spillover effects of the data centre industry. 'MITI has identified several key parameters for data collection across four main segments in the data centre ecosystem. 'These include data centre companies and operators; major tech firms and content providers; telecommunications and mobile network operators; and equipment suppliers and service providers within the data centre industry,' it said. In addition, MITI noted that several leading global tech companies have committed to creating around 67,000 direct and indirect jobs, mainly in the IT sector and related supply chains, once their projects are fully implemented.
