Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed moderately higher today, influenced by gains in energy prices.

According to BERNAMA News Agency, the rise also resulted from the widening discount of palm oil compared to gas oil. Additionally, destination buying, particularly from China, showed signs of improvement, as noted by Anilkumar Bagani, Mumbai-based Sunvin Group's commodity research head.

Bagani highlighted that despite the increase, high production and low export performance of Malaysian palm oil during the April 1-20 period, along with profit-taking in soybean oil on the Chicago Board of Trade (CBOT) futures, are prompting caution among participants. Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa added that CPO futures ended the week slightly higher, supported by gains in related vegetable oils.

Traders are also positioning for potential increases in crude oil prices amid uncertain signals over the reopening of the Strait of Hormuz by the United States and Iran, further influencing commodity market sentiment. At the close, the May 2026 contract rose RM12 to RM4,517 per tonne, followed by increases in June, July, August, September, and October 2026 contracts, which gained RM13, RM18, RM24, RM29, and RM32, respectively.

Trading volume saw a significant increase to 115,936 lots from 76,015 lots on Thursday, with open interest rising to 258,789 contracts from 255,331. The physical CPO price for May South remained unchanged at RM4,570 per tonne.