Kuala Lumpur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended mostly higher on Monday, driven by stronger export demand as reflected in the latest October cargo surveyor estimates.

According to BERNAMA News Agency, cargo surveyor Amspec Agri Malaysia reported that the country's palm oil exports grew by 37.73 percent, or 134,760 tonnes, reaching 491,954 tonnes during October 1-10, compared to 357,194 tonnes in the same period of September.

Independent inspection company Intertek Testing Services also noted an export increase of 33.51 percent, or 131,776 tonnes, to 525,071 tonnes during the first ten days of October, up from 393,295 tonnes during the same timeframe in September.

David Ng, a proprietary trader with Iceberg X Sdn Bhd, expressed that market optimism remains robust despite record-high inventories and production figures reported by the Malaysian Palm Oil Board (MPOB). The MPOB's latest data showed that CPO stocks rose by 31.88 percent, or 522,905 tonnes, to 2.16 million tonnes in September from 1.64 million tonnes in August. Additionally, CPO output increased by 16.48 percent, or 299,451 tonnes, to 2.11 million tonnes in September.

In terms of contract pricing, the October 2026 contract decreased by RM162 to RM4,200 per tonne. Conversely, the November 2026 contract increased by RM33 to RM4,498 per tonne, and the December 2026 contract rose by RM45 to RM4,637 per tonne. The January 2027 contract climbed RM49 to RM4,758 per tonne, February 2027 gained RM52 to RM4,862 per tonne, and March 2027 advanced RM53 to RM4,955 per tonne.

Trading volume fell to 72,256 lots from 145,207 on Friday, with open interest declining to 264,065 contracts from 337,867 previously. The physical CPO price for October South increased by RM50 to RM4,500 per tonne.