Kuala Lumpur: Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed mostly lower on Thursday, driven by extended profit-taking amid concerns over weaker demand in the coming weeks, a dealer reported.

According to BERNAMA News Agency, palm oil dealer David Ng indicated that the demand is projected to be weaker due to the festive season. He noted, “We see support at RM4,100 a tonne and resistance at RM4,300,” highlighting the anticipated price range for the commodity.

The trading session saw mixed movements in contract prices. The new contract month February 2025 rose by RM4 to RM4,468 per tonne, and March 2025 inched up RM1 to RM4,320 per tonne. However, the April 2025 contract eased by RM18 to RM4,190 per tonne, May 2025 dropped RM38 to RM4,096 per tonne, June 2025 reduced by RM51 to RM4,045 per tonne, and July 2025 fell by RM55 to RM4,025 per tonne.

Overall trading volume increased significantly to 82,557 lots from 59,237 lots the previous day, with open interest rising to 222,061 contracts from 220,165. The physical CPO price for February South decreased by RM30 to RM4,570 per tonne.