Kuala lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a slight bearish bias amid the recent sharp price rally that may deter further buying, a trader said. Palm oil dealer David Ng noted that the recent price increase in the palm oil market is making palm oil more expensive compared to other vegetable oils.

According to BERNAMA News Agency, this price hike may lead to a shift in demand away from palm oil to other vegetable oils, potentially weakening demand in the coming weeks. Ng stated that the market is expected to trade between RM4,450 and RM4,650 next week.

On a weekly basis, the September 2025 contract gained RM28 to RM4,453 per tonne, while the October 2025 contract rose by RM26 to RM4,427 per tonne. The November 2025 contract advanced RM18 to RM4,529 per tonne, December 2025 increased by RM18 to RM4,546, and January 2026 climbed RM21 to RM4,547. The February 2026 contract stood at RM4,528.

The August 2025 contracts were at RM4,400 per tonne last Friday. The weekly trading volume decreased to 361,870 lots from 472,033 lots the previous week, and open interest eased to 249,263 contracts from 249,718 contracts. The physical CPO price for August South was RM4,400 per tonne last Friday, while September South was RM4,470.