KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today as weaker exports weighed down market sentiment. Palm oil dealer David Ng highlighted the impact of reduced exports on the market, noting the influence of decreased demand on the futures prices.

According to BERNAMA News Agency, independent inspection company AmSpec Agri Malaysia reported a 10.35 percent month-on-month decline in Malaysian palm oil exports for November 1-30. This drop is attributed to the seasonally lower demand for palm oil during this period. Additionally, Ng mentioned that weaker soybean oil prices contributed further pressure to the CPO market.

Ng indicated that CPO prices are currently supported at RM4,850 and face resistance at RM5,050. At the close, various futures contracts experienced declines: the spot month December 2024 contract eased RM21 to RM5,217 per tonne, January 2025 fell by RM46 to RM5,079, February 2025 slid RM65 to RM4,955, March 2025 narrowed by RM80 to RM4,823 per tonn
e, April 2025 declined by RM83 to RM4,689, and May 2025 went down RM79 to RM4,561.

The trading volume decreased to 65,864 lots from 109,758 lots on Friday, while open interest increased to 229,527 contracts from 227,559. Meanwhile, the physical CPO price for December South decreased by RM20 to RM5,280 per tonne.