By Siti Noor Afera Abu
KUALA LUMPUR, Sept 3 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower amid mixed market sentiment.
Palm oil trader David Ng said sluggish demand for the commodity offset the positive sentiment driven by a slower output pace.
“We see support at RM3,850 a tonne and resistance at RM4,000 a tonne,” he told Bernama.
At the close, the spot month September 2024 contract decreased RM12 to RM4,020 a tonne, October 2024 fell RM5 to RM3,965 a tonne, and November 2024 was RM2 lower at RM3,931 a tonne.
December 2024 slipped RM1 to RM3,900 a tonne while January 2025 added RM1 to RM3,882 a tonne.
Total volume surged to 72,810 lots from Monday’s close of 47,966 lots, while open interest was slightly higher at 228,237 contracts compared with 226,900 contracts previously.
The physical CPO price for September South stood at RM4,050 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
