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By K. Naveen Prabu

KUALA LUMPUR, July 5 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade on a sideways range next week as market participants await key industry data for clearer direction.

Palm oil trader David Ng said the market is likely to remain range-bound as traders adopt a cautious stance ahead of the Malaysian Palm Oil Board’s (MPOB) June supply and demand report, which is scheduled for release on July 10.

“We expect prices next week to trade in a sideways range between RM3,980 and RM4,150 per tonne as traders wait for fresh data to guide the market,” he told Bernama.

Similarly, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the market will be closely watching the MPOB report next week to assess the extent of the anticipated production drop and its impact on end-month stock levels.

“Market participants will be keenly watching for the MPOB June supply and demand report to gauge production, export and stock trends that will set the tone for the market in the coming weeks,” he said.

On a weekly basis, the July 2025 contract fell RM9 to RM3,995 per tonne, while August 2025 dropped RM48 to RM4,053 per tonne. September 2025 rose RM51 to RM4,062 per tonne, October 2025 gained RM53 to RM4,064 per tonne, November 2025 added RM48 to RM4,065 per tonne and December 2025 increased RM41 to RM4,072 per tonne.

The weekly trading volume decreased to 253,182 lots from 267,618 lots in the previous week, while open interest went up to 226,243 contracts from 224,560 contracts.

The physical CPO price for July South increased by RM30 to RM4,050 per tonne.

-- BERNAMA