Tag: crude palm oil (CPO)

CPO Futures Pare Gains, Close Mixed On Cautious Sentiment Ahead Of MPOB Data

KUALA LUMPUR, July 8 -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed mixed on Tuesday on caution ahead of the release of the Malaysian Palm Oil Board's (MPOB) monthly data at the end of the week. Fastmarkets Palm Oil Analytics managing editor and senior analyst Sathia Varqa noted that CPO futures retreated from earlier highs after trading within a wider intraday range during the afternoon session. "Palm oil futures initially rallied on strength across the vegetable oils complex. However, gains were pared ahead of the release of the key MPOB data on July 10, with the market sentiment turning cautious as traders opted for a temporary pullback," he told Bernama. He added that the strengthening of the ringgit against the US dollar also reduced the competitiveness of Malaysian palm oil for overseas buyers, putting additional pressure on prices. At 6 pm, the local currency strengthened to 4.0685/0735 against the US dollar from Monday's close of 4.0825/0875. At the close, the spot month July 2026 contract dipped RM2 to RM4,483 per tonne, while August 2026 declined RM7 to RM4,516 and the September 2026 note lost RM3 to RM4,547. The October 2026 contract added RM1 to RM4,573 per tonne, while November 2026 rose RM7 to RM4,601, and the December 2026 note gained RM9 to RM4,625. The trading volume increased to 77,606 lots from 59,610 lots on Monday, while open interest inched up to 289,701 contracts from 288,418 contracts previously. The physical CPO price for July South was down by RM15 to RM4,505 per tonne. -- BERNAMA 

KUALA LUMPUR, July 8 — The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed mixed on Tuesday on caution ahead of the release of the Malaysian Palm Oil Board’s (MPOB) monthly data at the end of the week. Fastmarkets Palm Oil Analytics managing editor and senior analyst Sathia Varqa noted that CPO futures retreated […]