By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Jan 27 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed mostly higher on Monday due to expectations of weaker output, said palm oil dealer David Ng.
He said that as demand for CPO increases, buyers would compete for the limited supply, leading to higher prices.
“We see prices supported at RM4,200 (per tonne) and resistance at RM4,350,” he told Bernama.
At the close, the February 2025 contract rose RM21 to RM4,509 per tonne, March 2025 remained at RM4,350 per tonne, and April 2025 and June 2025 edged up RM2 each to RM4,218 and RM4,054 per tonne, respectively.
May 2025 increased RM7 to RM4,117 per tonne, while July 2025 slid RM10 to RM4,015 per tonne.
Trading volume shrank by more than half to 51,195 lots from 108,617 lots at Friday’s close, while open interest decreased to 219,343 contracts from 222,762.
The physical CPO price for February South climbed RM50 to RM4,600 per tonne.
-- BERNAMA
