CPO Futures Rally Above RM4,400 On Positive Market Sentiment

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, March 5 (Bernama) -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rose on Wednesday due to positive market sentiment, with prices surpassing RM4,400 per tonne for the May 2025 benchmark contract, a trader said.

Palm oil trader David Ng said the CPO prices rallied as market sentiment was buoyed by the growing trade tension between the United States (US) and China.

“China's potential tariff on US soybeans may shift demand from soybeans to palm oil, leading to higher demand for palm oil and thus boosting market sentiment.

“We expect the CPO price to find support at RM4,280 per tonne and resistance at RM4,500 per tonne,” he told Bernama.

At the close, the March 2025 contract edged up RM69 to RM4,669 per tonne, April 2025 gained RM64 to RM4,520 per tonne, and May 2025 increased RM68 to RM4,417 per tonne.

Meanwhile, June 2025 and July 2025 contracts climbed RM71 to RM4,322 and RM4,242, respectively, while August 2025 advanced RM65 to RM4,189 per tonne.

Trading volume eased to 90,251 lots from 91,888 lots yesterday, while open interest reduced to 236,629 contracts from 238,082 contracts previously.

The physical CPO price for March South added RM60 to RM4,760 per tonne.

-- BERNAMA