Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Tuesday, supported by the sharp gains in crude oil prices and weaker Malaysian palm oil production prospects, a trader said.

According to BERNAMA News Agency, Anilkumar Bagani, the commodity research head at Mumbai-based Sunvin Group, noted that crude oil futures traded higher on Tuesday morning following reports of United States military strikes on targets in southern Iran. Additionally, Malaysian palm oil production for the May 1-20 period estimated by the Malaysian Palm Oil Association (MPOA) was down by 5.85 percent from the same period last month.

Anilkumar further explained that the persistent weaker May export, the lower Chicago Board of Trade (CBOT) soybean oil futures, and rising palm oil premium over gas oil have restricted the palm oil's upward momentum. Malaysian palm oil export for May 1-25 was estimated by Intertek Testing Services at 1.02 million tonnes, down by 14.51 percent, and by AmSpec at 947,430 tonnes, down by 18.03 percent from their respective April 1-25 export estimates.

At the close, the June 2026 contract rose RM19 to RM4,429 per tonne, the July 2026 contract added RM20 to RM4,466 per tonne, and the August 2026 gained RM23 to RM4,496 per tonne. The September 2026 contract increased RM29 to RM4,522 per tonne, while the October 2026 contract climbed RM36 to RM4,553 per tonne, and the November 2026 contract was RM37 higher to RM4,581 per tonne.

Trading volume edged up to 63,916 lots from 57,304 lots on Monday, while open interest strengthened to 284,109 contracts from 282,395 contracts previously. The physical CPO price for June South inched up by RM20 to RM4,470 per tonne. Bursa Malaysia and its subsidiaries will be closed on May 27 in conjunction with the Aidiladha public holiday.