By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Sept 13 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Friday as concern over weak demand for the commodity grows, a trader said.
Palm oil dealer David Ng said the sentiment was also influenced by expectations of rising output in the coming weeks as it would put pressure on the prices.
“We see support at RM3,750 and resistance at RM3,900,” he told Bernama.
At the close, the spot month September 2024 contract fell RM90 to RM3,930 per tonne, while October 2024 was RM26 lower to RM3,909, and benchmark November 2024 dropped by RM38 to RM3,814.
December 2024 declined RM35 to RM3,775 per tonne, January 2025 slid by RM32 to RM3,754 and February 2025 lost RM33 to RM3,743.
Volume surged to 121,661 lots from 83,404 on Thursday, while open interest increased to 259,519 contracts from 247,627 previously.
The physical CPO price for September South slid by RM20 to RM4,010 per tonne.
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