Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher, snapping a three-day losing streak on bargain hunting. However, gains were limited by a report on Indonesia revising its export levy, making Malaysian palm oil less competitive, said palm oil trader David Ng. He noted that weaker export demand continues to exert pressure on CPO prices.

According to BERNAMA News Agency, Ng highlighted market support at RM4,100 and resistance at RM4,350. At the close, the April 2025 and May contracts saw a modest increase of RM2 each to RM4,564 and RM4,340 per tonne, respectively, while the June 2025 contract rose slightly by RM3 to RM4,188. The July 2025 contract added RM7 to RM4,101 per tonne, with August 2025 and September 2025 contracts gaining RM16 each to RM4,058 and RM4,039, respectively.

Trading volume experienced a significant surge to 122,240 lots compared to 110,726 lots at Monday’s close, while open interest slightly decreased to 252,515 contracts from 253,375 contracts previously. The physical CPO price for April South remained unchanged at RM4,650 per tonne.