By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Dec 18 (Bernama) – The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Wednesday, said palm oil trader David Ng.
He said that CPO prices hit their lowest in a month due to mounting concerns over the implementation of the biodiesel B40 programme starting next month.
“We see support at RM4,500 per tonne and resistance at RM4,850 per tonne,” Ng told Bernama.
At the close, the January 2025 contract fell by RM189 to RM4,700 per tonne, February 2025 dropped by RM182 to RM4,619 per tonne, and March 2025 declined by RM196 to RM4,529 per tonne.
April 2025 slipped by RM194 to RM4,427 per tonne, May 2025 decreased by RM176 to RM4,343 per tonne, and June 2025 slid by RM156 to RM4,271 per tonne.
Trading volume increased to 119,842 lots from 91,037 lots on Tuesday, while open interest rose to 247,590 contracts from 247,337 previously.
The physical CPO price for January South dropped by RM100 to RM4,950 per tonne.
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