Kuala Lumpur: The crude palm oil (CPO) futures market is expected to face downward pressure in the coming week due to predictions of increased production and stock levels. Palm oil trader David Ng indicated that market sentiment might lean towards a downside bias, with prices forecasted to fluctuate between RM3,650 per tonne and RM3,900 per tonne.

According to BERNAMA News Agency, sentiment remains cautious ahead of an upcoming Malaysian Palm Oil Board (MPOB) report, which is anticipated to be bearish and may further solidify expectations of weaker prices. The MPOB is scheduled to release its monthly production and export data on May 13.

From Friday to Friday, there were declines across various contract months: the spot month May 2025 dropped by RM130 to RM3,790 per tonne, June 2025 decreased by RM94 to RM3,813 per tonne, and July 2025 fell by RM67 to RM3,814 per tonne. August 2025 saw a decline of RM56 to RM3,827 per tonne, September 2025 contracted by RM51 to RM3,837 per tonne, and October 2025 was lower by RM38 at RM3,853 per tonne.

Weekly trading volume rose to 347,140 lots compared to 240,534 the previous week, while open interest expanded to 240,098 contracts from the prior count of 232,901. Additionally, the physical CPO price for May South decreased by RM170 to RM3,850 per tonne.

Bursa Malaysia Bhd and its subsidiaries will observe a closure on May 12 (Monday) for the Wesak Day public holiday, with operations set to resume on May 13 (Tuesday).