CPO Futures End Lower On Profit-Taking Activities
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Oct 25 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Friday, reversing a significant portion of the gains achieved in previous days, a trader said.
Palm oil trader David Ng said the decline could be attributed to profit-taking activities among investors as well as a decrease in soybean oil prices, which exerted additional downward pressure on the market.
“We see support at RM4,500 and resistance at RM4,680,” he told Bernama.
At the close, the spot month November 2024 contract was lower by RM56 to RM4,632 per tonne, December 2024 eased RM52 to RM4,584 per tonne, and January 2025 slipped RM67 to RM4,536 per tonne.
February 2025 decreased by RM71 to RM4,481 per tonne, March 2025 slid by RM71 to RM4,423 per tonne, and April 2025 fell by RM73 to RM4,357 per tonne.
Trading volume decreased to 97,467 lots from 98,788 lots on Thursday, while open interest fell to 252,233 contracts from 259,382 previously.
The physical CPO price for October South was higher at RM4,680 per tonne.
-- BERNAMA