Kuala Lampur:Crude palm oil (CPO) futures closed higher on Monday as bargain buying activity followed a recent price decline.

According to BERNAMA News Agency, the market sentiment received additional support from firmer prices of competing vegetable oils. Despite this, concerns over high domestic inventories limited the gains in CPO prices.

Proprietary trader David Ng from Iceberg X Sdn Bhd noted that prices are expected to find support at around RM4,450 per tonne, with resistance anticipated at RM4,600 per tonne.

At the market close, the October 2026 contract increased by RM36 to reach RM4,390 per tonne. The November 2026 contract rose by RM39 to RM4,480 per tonne, and the December 2026 contract went up by RM43 to RM4,578 per tonne. The January 2027 contract saw a gain of RM45 to RM4,672 per tonne, February 2027 climbed by RM52 to RM4,761 per tonne, and March 2027 added RM55 to RM4,841 per tonne.

The trading volume decreased to 87,313 lots from 164,637 on Friday, with open interest dropping to 329,113 contracts from 334,658 previously. The physical CPO price for October South increased by RM20 to RM4,420 per tonne.