CPO Futures Fall Below RM4,500 Per Tonne Amid Weaker Crude Oil Prices
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, April 14 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Tuesday, pressured by weaker crude oil prices, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said CPO futures fell below RM4,500 per tonne after crude oil prices retreated to under US$100 per barrel.
"Lower crude oil prices have weighed on palm oil prices, as the commodity is widely used as a biofuel feedstock," he told Bernama.
At the time of writing, Brent crude eased 1.57 per cent to US$97.80 per barrel.
Ng added that market sentiment was also weighed down by lower Chicago Board of Trade (CBOT) soybean oil prices.
"We locate price support at RM4,400 per tonne and resistance at RM4,550 per tonne," he said.
At the close, the April and May 2026 contracts dropped RM91 each to RM4,359 and RM4,420 per tonne, respectively, while the June 2026 contract dipped RM89 to RM4,466 per tonne.
The July 2026 contract declined RM81 to RM4,491 per tonne, the August 2026 contract fell RM77 to RM4,489 per tonne, and the September 2026 contract slipped RM70 to RM4,479 per tonne.
Trading volume surged to 107,900 lots from 66,741 lots on Monday, while open interest increased to 264,587 contracts from 256,371 contracts previously.
The physical CPO price for April South tumbled RM120 to RM4,460 per tonne.
-- BERNAMA