Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher today, rallying above RM4,750 per tonne due to stronger crude oil prices driven by the escalating conflict in West Asia.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng highlighted that the recent robust CPO export demand has bolstered market sentiment in the near term. Mumbai-based Sunvin Group head of commodity research Anilkumar Bagani noted that CPO futures traded higher today on bargain buying, which was encouraged by the widening discount against gas oil. He also mentioned that gains in the Dalian Commodity Exchange's refined, bleached, and deodorised palm olein futures have supported CPO prices.

Furthermore, the rebound in Malaysian palm oil export performance for the August 1-10 period provided a boost to prices. Intertek Testing Services estimated Malaysian palm oil exports for this period at 445,466 tonnes, marking a 2.62 per cent increase, while AmSpec estimated exports at 432,742 tonnes, reflecting a 9.21 per cent rise from their respective July 1-10 export estimates.

At the market close, the August 2026 and September 2026 contracts increased by RM17 to RM4,562 and RM4,648 per tonne, respectively. The October 2026 contract gained RM25 to RM4,748 per tonne, while the November 2026 contract advanced RM30 to RM4,820 per tonne. December 2026 climbed RM32 to RM4,868 per tonne, and January 2027 added RM34 to RM4,906 per tonne.

Trading volume rose to 127,603 lots from 97,133 lots yesterday, whereas open interest increased to 320,164 contracts from the previous 313,462 contracts. The physical CPO price for August South remained unchanged at RM4,560 per tonne.