By K. Naveen Prabu
KUALA LUMPUR, June 30 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, weighed down by concerns over rising production.
Palm oil trader David Ng noted that there are concerns that demand could ease in the coming weeks.
“Some buyers are likely to slow purchases while awaiting clearer price direction, which is keeping sentiment cautious.
“We see support at RM3,900 per tonne and resistance at RM4,080,” he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa noted that CPO futures traded lower throughout the day under selling pressure from broader macroeconomic factors.
“This includes weaker crude oil prices and a stronger ringgit, which have offset the impact of strong export performance,” he added.
At the close, the spot-month July contract fell RM28 to RM3,958 per tonne, August 2025 declined RM26 to RM3,979 per tonne, and September 2025 dropped RM25 to RM3,986 per tonne.
October 2025 slipped RM23 to RM3,988 per tonne, November 2025 eased RM22 to RM3,995 per tonne, and December 2025 decreased RM22 to RM4,009 per tonne.
Trading volume decreased to 30,371 lots from 63,167 on Thursday, while open interest fell to 220,799 contracts from 224,560 previously.
The physical CPO price for July South decreased RM20 to RM4,000 per tonne.
-- BERNAMA
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