Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives experienced a downturn for the sixth consecutive day, ending lower due to weaker crude oil prices and a stronger ringgit against the US dollar, according to palm oil trader David Ng. He noted that there is concern surrounding rising output, which is contributing to the negative market sentiment.

According to BERNAMA News Agency, the market is also focused on upcoming data from the Southern Peninsular Palm Oil Millers’ Association (SPPOMA), UOB Kay Hian, and the Malaysian Palm Oil Association (MPOA) for the April 1-20 period. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani stated that the data is expected to confirm a double-digit palm oil production recovery in April on a month-on-month basis. However, he pointed out that weakening macroeconomic conditions and reduced demand in key markets, particularly India, are exerting further pressure on palm oil prices.

At the market close, the May 2025 contract decreased by RM47 to RM4,070 per tonne. Other contracts also saw declines, with June 2025 falling RM54 to RM3,962 per tonne, and July 2025 slipping RM65 to RM3,910 per tonne. August 2025 and September 2025 contracts dropped RM67 and RM75 to RM3,894 and RM3,884 per tonne, respectively, while the October 2025 contract also edged down RM75 to RM3,884 per tonne.

Trading volume saw a reduction, dropping to 70,503 lots from 72,684 lots last Friday, and open interest slightly eased to 238,488 contracts from 239,000. The physical CPO price for May South experienced a significant decrease, falling RM130 to RM4,120 per tonne.