CPO Futures Rally Above RM4,600 On Concerns Over Weaker Production
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, March 7 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives rose on Friday amidst positive market sentiment, with prices surpassing RM4,600 per tonne for the May 2025 benchmark contract, a trader said.
Palm oil trader David Ng said CPO prices rallied as the market remained concerned about production in the coming weeks.
Meanwhile, low stock levels in the country are expected to support prices in the near term.
“We expect CPO prices to find support at RM4,500 per tonne and face resistance at RM4,780 per tonne,” he told Bernama.
At the close, the March 2025 contract rose by RM126 to RM4,870 per tonne, April 2025 gained RM142 to RM4,724 per tonne, and May 2025 increased RM145 to RM4,625 per tonne.
Meanwhile, June 2025 contract climbed RM123 to RM4,506, July 2025 ticked up RM103 to RM4,389, and August 2025 advanced RM87 to RM4,309 per tonne.
Trading volume soared to 131,478 lots from 107,247 lots yesterday, while open interest expanded to 242,153 contracts from 239,817 contracts previously.
The physical CPO price for March South fell RM100 to RM4,900 per tonne.
-- BERNAMA