By K. Naveen Prabu
KUALA LUMPUR, July 7 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher today, supported by expectations of weaker production.
Palm oil trader David Ng said traders expect production in Malaysia to ease in the coming weeks, lending support to prices.
“Seasonal factors and weather conditions are likely to slow down harvesting, leading to a tighter supply outlook for Malaysian palm oil,” he told Bernama.
He said stronger export performance is also supporting prices as firm demand from key buyers helps absorb supply.
“We see support at RM4,000 per tonne and resistance at RM4,150,” he said.
At the close, the spot-month July contract rose RM15 to RM4,010 per tonne, August 2025 gained RM9 to RM4,062 per tonne, and September 2025 added RM9 to RM4,071 per tonne.
October 2025 advanced RM9 to RM4,073 per tonne, November 2025 climbed RM5 to RM4,070 per tonne and December 2025 increased RM3 to RM4,075 per tonne.
Trading volume went down to 52,221 lots from 64,163 lots on Friday, while open interest increased to 228,491 contracts from 224,873 contracts previously.
The physical CPO price for July South increased RM20 to RM4,070 per tonne.
-- BERNAMA
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