By K. Naveen Prabu
KUALA LUMPUR, Feb 10 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower amid expectations of weaker demand in the coming weeks, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was also dampened by eroding price competitiveness against other vegetable oils.
“We see CPO prices supported above RM4,050 per tonne, with resistance at RM4,300,” he told Bernama.
At the close of trading, the February 2026 and March 2026 contracts decreased by RM62 each to RM4,038 and RM4,070 per tonne, respectively, while the April 2026 contract fell RM65 to RM4,095 per tonne.
The May 2026 contract declined RM67 to RM4,100 per tonne, the June 2026 contract went down RM62 to RM4,099 per tonne, and the July 2026 contract retreated RM61 to RM4,092 per tonne.
Trading volume increased to 73,171 lots from 41,661 on Monday, while open interest rose by 218,595 contracts from 216,074 previously.
The physical CPO price for February South decreased RM50 to RM4,100 per tonne.
-- BERNAMA
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