By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, March 13 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher, tracking the stronger soybean oil prices, said palm oil trader David Ng.
He said ongoing concerns over weak output also supported CPO prices.
“On a technical front, the CPO price has support at RM4,500 per tonne, with resistance at RM4,680 per tonne,” Ng told Bernama.
Mumbai-based Sunvin Group commodity research head Anilkumar Bagani, meanwhile, said the positive momentum in Chinese vegetable oil futures, along with strong energy prices, is bolstering palm oil prices.
However, he said subdued demand from destination markets limited the gains.
At the close, the March 2025 contract gained RM14 to RM4,773 per tonne, April 2025 was RM38 higher at RM4,671 per tonne, and May 2025 rose RM52 to RM4,539 per tonne.
The June 2025 contract was RM65 firmer at RM4,435 per tonne, July 2025 ticked up RM69 to RM4,337 per tonne, and August 2025 added RM68 to RM4,277 per tonne.
Trading volume eased to 86,679 lots from 94,670 lots on Wednesday, while open interest expanded to 247,422 contracts from 244,703 contracts previously.
The physical CPO price for March South remained at RM4,850 per tonne.
-- BERNAMA
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