Kuala Lumpur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower today due to concerns over increasing domestic inventories and reduced export demand.

According to BERNAMA News Agency, David Ng, a proprietary trader at Iceberg X Sdn Bhd, noted that domestic inventories remained high as production outpaced stock drawdowns, exerting downward pressure on prices.

Export demand was reported to be subdued, especially from key markets such as India and China, which limited buying support. Ng also highlighted that the cautious sentiment in competing vegetable oils further impacted CPO prices, as weaknesses in related markets like soybean oil and sunflower oil reduced palm oil's relative attractiveness, leading traders to exercise caution.

Ng expects CPO prices to be supported at around RM4,550 per tonne, with resistance projected at RM4,700 per tonne. At the market close, the October 2026 contract dropped RM9 to RM4,433 per tonne. The November 2026 contract fell RM9 to RM4,523 per tonne, and the December 2026 contract decreased by RM12 to RM4,624 per tonne. Additionally, the January 2027 contract fell RM15 to RM4,731 per tonne, February 2027 declined RM13 to RM4,830 per tonne, and March 2027 decreased RM7 to RM4,926 per tonne.

Trading volume increased to 131,293 lots from 114,553 on Tuesday, while open interest rose to 464,043 contracts from 339,820 previously. The physical CPO price for October South was recorded at RM4,500 per tonne.