Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Monday, weighed down by weaker prices on Dalian palm olein, said palm oil trader David Ng. He noted that concerns over sluggish demand in the weeks ahead also influenced market sentiment.
According to BERNAMA News Agency, the market anticipates the CPO price to find support at RM4,430 per tonne and resistance at RM4,600 per tonne. At the close of trading, the March 2025 contract trimmed RM47 to RM4,682 per tonne, April 2025 lost RM60 to RM4,585 per tonne, and May 2025 decreased RM70 to RM4,484 per tonne.
Meanwhile, the June 2025 contract declined RM73 to RM4,382 per tonne, July 2025 dropped RM74 to RM4,290 per tonne, and August 2025 slipped RM71 to RM4,231 per tonne. Trading volume declined to 50,914 lots from 76,860 lots the previous day, while open interest eased to 241,061 contracts compared to 241,330 contracts previously.
The physical CPO price for March South fell RM40 to RM4,800 per tonne.