Kuala lumpur: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed mostly higher today on stronger export estimates and lower production after data from the Malaysian Palm Oil Board (MPOB) showed a month-on-month decline in output, a trader said. Iceberg X Sdn Bhd proprietary trader David Ng noted that the decline in palm oil production reported by the MPOB is expected to support CPO prices in the near term. "We see support at RM4,450 per tonne and resistance at RM4,600 per tonne," he told Bernama.

According to BERNAMA News Agency, cargo surveyor Amspec Agri Malaysia reported that the country's palm oil exports rose 4.87 per cent, or 17,518 tonnes, to 376,971 tonnes during June 1-10 from 359,453 tonnes in the corresponding period of May. Meanwhile, independent inspection company Intertek Testing Services indicated that exports increased 3.50 per cent, or 14,445 tonnes, to 427,255 tonnes during June 1-10, compared with 412,810 tonnes in May 1-10.

At the close, the June 2026 contract fell RM4 to RM4,450 per tonne, while July 2026 gained RM14 to RM4,498 per tonne and August 2026 rose RM10 to RM4,538 per tonne. September 2026, October 2026, and November 2026 contracts advanced RM12 each to RM4,578, RM4,615, and RM4,649 per tonne, respectively.

Trading volume surged to 96,730 lots from 51,506 lots on Tuesday, while open interest eased to 285,884 contracts from 287,862 previously. Meanwhile, the physical CPO price for June South remained unchanged at RM4,500 per tonne.