CPO futures to see bearish bias this week on rising production output
Ng anticipated the crop's prices to trade between RM3,900 and RM4,100 a tonne this week.
Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh said CPO futures are likely to be in a technical correction within the range of RM3,800 to RM4,000 per tonne.
'There is plenty of stock in Malaysia and Indonesia. Due to good weather, production for April is seen to be good in Malaysia and Indonesia. Physical buying will come from China, especially with the recent visit of Chinese President Xi Jinping, besides India, Pakistan, Middle East and European Union countries,' Teh told Bernama.
Mumbai-based Sunvin Group commodity research head Anilkumar Bagani expected CPO futures to trade in a range of RM3,850 and RM4,200 a tonne with the focus on Malaysian production and clarity on US volume obligations for 2025 and 2026.
'This week the focus will be on April 1 to 20 palm oil production data from the Southern Peninsular Palm Oil Millers' Association and the Malaysian Palm Oil Association,' he added.
He said the SPPOMA's April 1-15 production estimates came at +3.97 per cent, and the market is expecting palm oil production to show a double-digit growth in April on a month-on-month basis.
Anilkumar said there are also expectations that the US Environmental Protection Agency will raise the RVO mandate for 2025 to 5.25 billion gallons from 3.35 billion gallons in 2024, which will lead soybean oil prices to muster gains and more bullishness is likely to follow due to the lower soybean oil stocks in the US.
'The Brazilian biodiesel mandate, currently at 14 per cent is also likely to go up to 15 per cent,' he added.
On a Friday-to-Friday basis, the spot month May 2025 contract fell RM344 to RM4,117 per tonne, June 2025 slipped RM317 to RM4,016, July 2025 contract decreased RM358 to RM3,975 per tonne, August 2025 weakened RM251 to RM3,961, September 2025 lost RM253 to RM3,959 per tonne, and October 2025 depreciated RM111 to RM3,960 per tonne.
Weekly trading volume declined to 434,196 lots from 627,813 lots the previous week, while open interest dropped to 239,000 contracts from 486,398 earlier.
The physical CPO price for April South was RM270 lower at RM4,250 per tonne. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
21 minutes ago
- Borneo Post
Passion for traditional zither grows in central China's once barren land
A staff member sells Guzheng, also known as Chinese zither, via livestreaming in Lankao County of Kaifeng City, central China's Henan Province on May 13, 2024. – Xinhua photo ZHENGZHOU (Aug 2): Every evening between Tuesday and Sunday, Liu Wan, under the nickname 'Teacher Wanwan', livestreams herself teaching the Guzheng – a traditional Chinese plucked board zither – online in her studio in Lankao County, central China's Henan Province. Lankao is widely known in China as a former barren and impoverished land where, in the 1960s, the renowned county Party secretary Jiao Yulu dedicated his life to combating sandstorms, waterlogging, and saline-alkali soil – problems that many believe stemmed from the Yellow River's historical course changes and breaches in the area. What many people do not know, however, is that Lankao is now a hub for Chinese musical instrument production, relying on the light, porous and highly resonant wood of paulownia – these sand-tolerant trees were first promoted for large-scale planting by Jiao and have since become a dominant planted tree species in the county. Liu's Guzheng teaching livestreams are a part of the industry. In addition to Guzheng lessons, she also engages in customised Guzheng production and selling. Her live teaching videos are free and open to everyone to attract potential buyers, and viewers who would like to buy one can click the links in her livestreaming room. 'People don't need to buy a Guzheng to watch my videos, but those who have bought the products can enjoy more personalised guidance on Guzheng playing as after-sales services,' Liu explained. According to Wu Sijin, an official with the Lankao Chinese Musical Instrument Development Center, such a livestream model has become common across the Chinese musical instrument industry in the county. 'Livestreams mainly target individual clients, in addition to the original offline sales services that mainly target (music) training institutions,' she said. Lankao now has over 200 enterprises producing more than 20 varieties of instruments, including Guzheng, Pipa and Erhu, as well as supporting products like soundboards and stools. Wu noted that almost every musical instrument brand in Lankao has collaborated with professional performers who work as livestreamers. The livestreams not only promote their Chinese musical instrument products but also showcase the rich culture behind them. Liu, who started to play Guzheng from a young age and has engaged in livestreaming for about seven years, uses her live videos to share her passion for traditional Chinese music with people from across China and the rest of the world. 'Many of my students, including those who are Chinese living overseas, have an appreciation for traditional Chinese music in nature. 'Guzheng, regarded as comparatively easy to pick up and pleasing, is an ideal option to learn,' she said. The majority of Liu's students are retirees, mostly females. Many have long had a desire to learn an instrument, but until retirement, they lacked the time and resources to pursue this passion. Jin Hong, 55, from the eastern Chinese city of Yangzhou, was able to chase her dream of handling a traditional Chinese musical instrument after her daughter entered university. Jin began learning to play the Guzheng by following Liu's live videos about two years ago. Starting from scratch, she can now play entire pieces. 'It's necessary to encourage these retirees, teaching them from the very basics and showing them that they can learn to play the Guzheng as long as they can use pens and chopsticks,' Liu said. 'As they have gained confidence, they can keep learning and improving.' She believes that selling Guzhengs is important, but it is even more crucial to ensure that buyers know how to play them. 'Otherwise, the instrument cannot truly realise its value,' said Liu, who has taught over 100,000 students and began her own Guzheng brand in 2023. For this reason, Liu also launched offline Guzheng training programmes. She currently offers five sessions a year, each lasting one week, during which students travel to Lankao for in-person instruction. Hu Lihua, a 66-year-old retiree from northwest China's Xi'an, is one of the offline students who participated in the latest session. Hu began to learn the Guzheng two years ago after being amazed by the instrument's impressive timbre at a senior university, and she often watches Liu's online lessons during her spare time. 'From the lessons, I know that there's a 'music town' in Lankao, and I decided to come here to join the training,' she said. The Lankao Music Town is a Chinese musical instrument industrial park set up in 2013, covering a total area of 321 hectares. It represents one of the key initiatives of the Lankao government to create a comprehensive industrial chain encompassing instrument manufacturing, e-commerce, and music training. In recent years, Music Town has cooperated with art schools, leading instrument manufacturers and tourism enterprises to promote the integrated development of the musical instrument industry with culture and tourism. In November 2024, the Lankao Chinese Musical Instrument Development Center was set up as part of these efforts. 'We are working to further integrate resources, strengthen industry support, and attract investment across the industrial chain,' said Wu, the official with the center. 'As the Lankao Music Town gains greater fame and its environment continues to improve, many of my students from across the country would like to come and experience the atmosphere of traditional Chinese musical instruments here,' Liu said. In Music Town, Liu has rented a venue that provides accommodation, dining, and instrument practice facilities for her students, and she looks forward to welcoming even more Guzheng enthusiasts in the years to come. 'I wish to let more Guzheng lovers know about Lankao and inspire them to come here – whether to study, to exchange, or simply to visit and explore,' she said. – Xinhua
The Star
2 hours ago
- The Star
The race for engineering talent
THIS week, the first phase of a training deal between Malaysia and global chip design giant Arm Holdings PLC began to take shape, kicking off with 400 engineers being trained to design integrated circuits (ICs) using Arm technology. The idea is to get 10,000 Malaysian engineers trained this way in the next four years.
The Star
8 hours ago
- The Star
Asean News Headlines at 10pm on Friday (Aug 1, 2025)
Malaysia: * Media a vital bridge of information between police and public, says IGP * Penang defers implementation of new water tariffs to July 2026 * Children accused of crime must be treated with dignity, says Suhakam * US cuts Malaysia tariff to 19% from 25% * 'Governor's family not involved in student's death' * Malaysia factory slump eases as July PMI hits five-month high * Four teens nabbed for allegedly beating up classmate in Kajang mall * Malaysian pharmaceuticals, semiconductors exempt from US tariffs, minister says * Reduction of US tariff rate to 19% a significant achievement, says Zafrul * Kuching Waterfront set to be longest riverfront nationwide * Unemployed man charged with raping former sister-in-law in Cheras * Man who stabbed cop in KL tests positive for dugs * Ten police officers nabbed by MACC to face disciplinary action, says Bukit Aman * CAAM-Mavcom rationalisation in effect, Mohd Sharil is new chairman, says Transport Ministry * Minimum wage extended to contract apprentices as amended law takes effect, says HR Ministry * Teen pregnancies still an issue in Sabah due to poor sex education, says state assistant minister East Timor's President Jose Ramos-Horta delivers his speech at the Association of South-East Asian Nations (Asean) Secretariat in Jakarta on August 1, 2025. -- Photo by BAY ISMOYO / AFP Singapore: * Man accused of raping Singaporean woman who hired him to fix lights in her flat claims she made first move * Three Singaporean men charged over living on the earnings of prostitution * Tanjong Katong sinkhole: Singapore says affected road will open progressively to motorists from noon on Aug 2 * Singapore's 2024 MRT breakdown could have been prevented with better coordination: SMRT CEO * HK actor Raymond Lam and family kick off their summer vacation in Singapore * Mariah Carey to stage shows in Singapore, Indonesia, Thailand, Philippines, Japan * Asia: Stocks struggle as Trump unveils new tariff sweep * S'pore cop among trio held over illegal exit attempt * US, Australia hold joint military exercise in Papua New Guinea for first time * Singapore's OCBC sees lower 2025 net interest income, Q2 profit matches forecasts Indonesia: * A treat for Nusantara music fans - Indonesian star Pamungkas and local boys Fugo join in the fun for Panggung Purnama concert on Sept 28 * World economies reel from Trump's tariffs punch, but most South-East Asian countries rejoice thanks to kinder rates * Indonesian President Prabowo pardons political opponents * RM2mil drug haul: Syndicate smuggling to Indonesia busted * Farmer charged with trafficking six Indonesians into country * Prabowo's political rivals among over 1,000 granted clemency * Paradise beaches sit empty as Indonesia bets on saturated Bali * Oil steadies as concerns about tariff impacts vie with Russian supply threats Foreign military attaches from major powers and Asean member countries, along with diplomats from 23 countries and Thai military personnel, visit a shelter in Sisaket province following a ceasefire between Cambodia and Thailand, where displaced people have been staying since July 24, in Sisaket province, Thailand, August 1, 2025. -- Photo: REUTERS/Chalinee Thirasupa Thailand: * Thailand seeks neutral venue for border talks with Cambodia; Malaysia seems to be best venue * Thailand welcomes 19% US tariff as 'major success' * Trump sets 19% tariff on Thailand, Cambodia after peace deal' * Court to rule on Thaksin's hospitalisation jail dodge * Trump's tariffs send Asian FX markets reeling, won leads losses * New US tariffs draw regional reactions across Asia-Pacific * Trump's call broke deadlock in Thailand-Cambodia border crisis Philippines: * World Bank to provide US$700mil loan to boost Philippines' resilience to natural disasters * Philippines national nabbed at Kota Kinabalu airport with fake travel passes * Philippines' Marcos eyes India trade, defence in talks with Modi * Philippines records 10.5bil pesos infrastructure damage due to south-west monsoon, cyclones with death toll at 37 * Asian currencies fall to two-month low as tariff deadline nears * On World Day Against Trafficking, UN sounds alarm on scam centre surge China's swimmer Peng Xuwei dives as she competes in a semi-final of the women's 200m backstroke swimming event during the 2025 World Aquatics Championships in Singapore on Friday, August 1, 2025. -- Photo by François-Xavier MARIT / AFP Vietnam: * Weather havoc in Vietnam - Flash floods kill three in mountainous north, nine more people missing * Vietnamese PM calls for completion of 3,000 km of expressways by end-2025 * Flooding leaves 14 dead, missing in Vietnam's Dien Bien * Vietnamese lychees attract global buyers * Asia's factory activity worsens as US trade uncertainty bites * Countries with no trade deal will hear from US by midnight, White House says Myanmar: * Myanmar enforces Cybersecurity Law, targeting unauthorised online gambling and VPN services * Myanmar imposes martial law in 63 townships following state of emergency declaration * US tariff set to shift Indochina economic balance with Myanmar and Laos worst hit * Japan says 'seriously concerned' about Myanmar elections without release of those detained * Conflict-ridden Myanmar to vote A crew disembarks the Indian Navy ship guided-missile destroyer, INS Delhi, that is docked at Manila's port, Philippines, on Friday, Aug. 1, 2025. -- AP Photo/Aaron Favila Cambodia: * Cambodia to nominate Donald Trump for Nobel Peace Prize, says deputy PM * Thailand returns two wounded soldiers to Cambodia but continues to hold 18 of their comrades * Cambodia says the country had agreed to talks in Malaysia at Thailland's request * Cambodia deputy PM says 19% US tariff rate averts collapse of its garments manufacturing sector * Hun Manet urges troop release as ceasefire holds Laos: * Russia, Laos sign seven documents, including a roadmap for nuclear cooperation * US tariff set to shift Indochina economic balance with Myanmar and Laos worst hit * Laos launches digital ID system Brunei: * Brunei announces enforcement on abuse of dominant positions * Brunei lion dance team heads to Kuala Lumpur for international debut * Brunei enforces key provisions of the Competition Act Russian President Vladimir Putin, right, and Laotian President Thongloun Sisoulith applause during a ceremony of exchange of documents following their meeting at the Grand Kremlin Palace in Moscow, Russia. -- AP AseanPlus: * Penang chosen as filming spot for Miss HK Pageant 2025, joined by TVB stars Benjamin Yuen & Moon Lau * Save my baby: Mother gives up baby girl while being nabbed during immigration raid in Tawau * What's it like to scale the highest active volcano in South-East Asia * Immigration nabs dozens of foreigners in raids on Pontian nightclubs * Actress Eleanor Lee wins lawsuit against former assistant who doctored her audio recording * Captain of Turkish yacht found safe after 40-hour ordeal at sea * Forget dating apps: More young Malaysians go back to face-to-face interactions * Beijing officials admit 'gaps' in readiness after rains kill dozens * Man's naked body found surrounded by sex toys in Hong Kong flat * China prepares to unseat US in fight for AI market * Hong Kong police arrest 82 triad suspects, seize assets worth HK$15 million * The cultural lore and hidden gems in 'KPop Demon Hunters' * Trump says tariffs talks with China 'moving along well' * Landslide-prone Nepal tests AI-powered warning system * Australian minister says US tariffs to remain at 10% * Hong Kong GDP expands 3.1%, faster than forecast * Japanese woman with child injured in subway station attack in China, says Tokyo embassy * Ancient 'lamp shells' practised social distancing, fossil find in China reveals * Renewable energy on fast lane amid China's green transition * Nvidia says no 'backdoors' in chips as China questions security * Chinese warships arrive in Russia for joint Pacific naval exercise * Did a lab of AI 'scientists' design a possible Covid-19 treatment? * Taiwan to seek lower tariff after Trump's 'temporary' 20% levy * China's manufacturing activity shrinks as exports drag, S&P PMI shows * Trump sets 10% to 41% 'reciprocal' tariffs on dozens of countries' exports * Toddler survives deadly encounter with cobra by biting its head off * Japan plans another record hike in minimum wage, Kyodo News says * Woman, 35, to deny making false statement to secure Hong Kong study permit * China, HK stocks book steepest weekly losses since April on soft data, Trump tariffs * Hulk Hogan's racist sex tape influenced estranged daughter Brooke to remove herself from will * China courier puts sick daughter in delivery box at work to save on childcare * Will China win renewables race while US pivots to fossil fuels and nuclear? * Wu Yiquan: The Chinese AI researcher scoring big on the basketball court * South Korea says it has no written pact on US trade deal * South Korean restaurant owner puts pet dog inside fridge to prevent animal from overheating * US President Trump hits dozens of countries' goods with steep tariffs; Canada, Brazil and India among worst hit * Heat fuels China's booming night-time tourism - As sweltering heat waves sweep across China, a recent tourist trend has emerged * South Korea's former President strongly resists special counsel's attempt to arrest him for questioning * South Korea's ex-leader Yoon lay on floor of cell and refused to be questioned, prosecutors say / New arrest warrant for Yoon over missed summons
