Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today on concerns over weaker export demand amid the strengthening ringgit. Iceberg X Sdn Bhd proprietary trader David Ng highlighted that recent cargo surveyor data indicated a 12 per cent fall in export estimates, mainly due to reduced shipments to key markets such as India and China, as the firmer ringgit dampened buying interest.

According to BERNAMA News Agency, at 6 pm, the ringgit rose to 3.8865/8925 against the greenback from yesterday's close of 3.8900/8955. The bearish market momentum was further impacted by weaker Chicago Board of Trade (CBOT) soybean oil prices, which added pressure on palm oil futures. David Ng mentioned that CPO prices are expected to find support above RM3,950 per tonne, with resistance at RM4,180.

At the market close, the March 2026 contract decreased by RM63 to RM3,955 per tonne, April 2026 edged down by RM50 to RM3,996 per tonne, and May 2026 dipped by RM48 to RM4,005 per tonne. The June 2026 contract dropped by RM47 to RM4,006 per tonne, July 2026 contracted by RM45 to RM4,003 per tonne, and August 2026 lost RM43 to RM3,998 per tonne.

Trading volume increased to 61,228 lots from 59,677 on Wednesday, while open interest surged to 227,240 contracts from 221,625 previously. The physical CPO price for March South eased RM40 to RM4,020 per tonne.