Kuala lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, as concerns over rising stocks weighed on sentiment following the release of the Malaysian Palm Oil Board’s (MPOB) latest data.

According to BERNAMA News Agency, palm oil trader David Ng said the market reacted to the MPOB’s June report, which showed total palm oil inventories rising to 2.03 million tonnes from 1.99 million tonnes in May, despite a decline in production and exports during the month.

Ng mentioned that traders are cautious after the MPOB reported a month-on-month increase in stock levels, indicating ample supply in the market, which is putting pressure on prices. However, he noted that stronger export performance seen in recent weeks has provided some support to the market, limiting further downside.

Ng observed that the market sees support at RM4,100 per tonne and resistance at RM4,250. At the close, the spot-month July contract fell RM17 to RM4,039 per tonne, August 2025 eased RM17 to RM4,118 per tonne, and September 2025 slipped RM11 to RM4,146 per tonne. October 2025 declined RM11 to RM4,147 per tonne, November 2025 shed RM8 to RM4,142 per tonne, and December 2025 edged down RM4 to RM4,147 per tonne.

Trading volume increased to 100,487 lots from 91,409 lots on Wednesday, while open interest decreased to 226,285 contracts from 230,203 contracts previously. The physical CPO price for July South increased by RM20 to RM4,150 per tonne.