Kuala Lumpur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Tuesday as investors engaged in profit-taking following a previous rebound.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng attributed the decline to softer crude oil prices and concerns over elevated domestic inventories, which weighed on market sentiment. Brent crude oil prices fell by 2.57% to US$97.74 per barrel, impacting palm oil prices due to its use as a biofuel feedstock.

Ng noted that CPO prices are expected to find support around RM4,500 per tonne, with resistance at RM4,650 per tonne. At the market close, the October 2026 contract decreased by RM50 to RM4,340 per tonne, the November 2026 contract slipped RM23 to RM4,457 per tonne, and the December 2026 contract edged down RM18 to RM4,560 per tonne.

In addition, the January 2027 contract slid RM9 to RM4,663 per tonne, February 2027 fell RM3 to RM4,758 per tonne, while March 2027 added RM2 to RM4,843 per tonne. Trading volume increased to 92,828 lots from 87,313 on Monday, with open interest marginally rising to 329,375 contracts from 329,113 previously.

The physical CPO price for October South decreased by RM40 to RM4,380 per tonne.