InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange could be in alert mode next week.

David Ng, a CPO dealer thought, CPO contract price would be cheaper to be at RM3,600 and RM3,750 per ton. It could happen as same as soyoil trade that was sluggish still.

“Soyoil over supply is pressing the price. It happens for the much planting in South America,” he said, as InfoSAWIT quoted from Bernama, Sunday (18/8/2024).

In week on week, new spot price for September 2024 would increase RM 45 to be RM 3,872 per ton, while October 2024 price would escalate RM 6 to be RM 3,752 per ton. But November 2024 price would get cheaper RM 42 to be RM 3,681 per ton.

December 2024 contract price could decrease turun RM 58 to be RM 3,659 per ton, January 2025 also could decrease RM 73 to be RM3 ,653 per ton, February 2025 could be the same at RM 3,655 per ton. August 2024 price on Thursday could be at di RM 3,890 per ton.

The weekly volume could significantly decrease to be 312.466 lots from 427.161 lots to the previous week, while open interest could too to be 225.277 from 278.122 contracts in the previous week.

August CPO physics in the south could be increasing RM 20 to be RM 3,920 per ton on Friday while it was at RM 3,900 at the previous weekend. (T2)