By K. Naveen Prabu
KUALA LUMPUR, Jan 28 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher today, tracking gains in soybean oil.
Proprietary trader David Ng of Iceberg X Sdn Bhd said higher crude oil prices also lifted market sentiment. “We see (CPO) supported above RM4,180 with resistance at RM4,300 a tonne,” he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the palm oil market turned cautious after rising sharply since last week, with profit-taking emerging on Friday. “The relentless rise in the ringgit also kept gains in check,” he added.
At the close, the February 2026 contract rose RM16 to RM4,198 per tonne, March 2026 gained RM13 to RM4,256, and April 2026 added RM12 to RM4,272.
The May 2026 contract climbed RM14 to RM4,266 per tonne, June 2026 increased RM16 to RM4,248, while July 2026 added RM12 to RM4,223.
Trading volume fell to 73,426 lots from 120,825 on Tuesday, while open interest dropped to 216,758 contracts from 218,306 previously.
The physical CPO price for February South increased RM10 to RM4,210 per tonne.
-- BERNAMA
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