By K.Naveen Prabu
KUALA LUMPUR, Aug 7 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed down by concerns over rising production and weak demand in the coming weeks.
Palm oil trader David Ng said the anticipated increase in stock levels is likely to put downward pressure on prices.
“We see CPO prices supported at RM4,180 per tonne, with resistance at RM4,300 per tonne,” he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa noted that CPO futures extended losses for a second consecutive session, as traders continued to take profits after Monday’s sharp rally.
“While concerns over rising supply persist, the positive demand outlook is helping to cushion the downside,” he added.
At the close, the spot-month August contract fell RM18 to RM4,202 per tonne, September 2025 declined RM25 to RM4,222 per tonne, and October 2025 dropped RM27 to RM4,240 per tonne.
November 2025 eased RM23 to RM4,257 per tonne, December 2025 slipped RM19 to RM4,270 per tonne, and January 2026 also shed RM14 to RM4,280 per tonne.
Trading volume went up to 54,424 lots from 53,291 on Wednesday, while open interest increased to 227,566 contracts from 226,626.
The physical CPO price for August South remained unchanged at RM4,230 per tonne.
-- BERNAMA
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