CPO Futures Snap Three-day Losses To Close Higher On Bargain Buying

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, April 9 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day losing streak to close higher on Thursday, supported by bargain buying and a recovery in energy prices, a trader said.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said market sentiment was also influenced by positioning ahead of key monthly reports, starting with the World Agricultural Supply and Demand Estimates report later tonight, followed by the Malaysian Palm Oil Board report on Friday.

“The market is also watching closely the crucial United States-Iran meeting in Islamabad, which will discuss key points related to the ceasefire,” he told Bernama.

It was reported that Iran has agreed to a two-week ceasefire with the US, with its National Security Council stating that talks with Washington will begin in the Pakistani capital, Islamabad, on Friday.

At the close, the April and May 2026 contracts increased RM53 each to RM4,571 and RM4,610 per tonne, respectively, while the June 2026 contract rose RM57 to RM4,643 per tonne.

The July 2026 contract gained RM59 to RM4,652 per tonne, the August 2026 contract added RM58 to RM4,635 per tonne, and the September 2026 contract firmed RM62 to RM4,613 per tonne.

Trading volume eased to 66,606 lots from 105,474 lots on Wednesday, while open interest fell to 258,033 contracts from 260,341 contracts.

The physical CPO price for April South increased RM80 to RM4,650 per tonne.

-- BERNAMA