By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, March 30 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, driven by renewed bullish sentiment on Indonesia’s preparation to roll out its B50 biodiesel programme soon, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said this development, combined with the upward momentum in global crude oil prices, has strengthened expectations of increased demand for palm oil as a key feedstock, which supports the market’s rally.
“We see prices supported above RM4,700 and face a new price resistance at RM4,850,” he told Bernama.
At the time of writing, Brent crude oil rose 1.08 per cent to US$113.79 per barrel.
At the close, the April 2026 contract rose RM126 to RM4,666 per tonne, May 2026 gained RM137 to RM4,748, while June 2026 and September 2026 contracts advanced RM141 each to RM4,772 and RM4,711, respectively.
The July 2026 contract increased RM145 to RM4,765 per tonne, and the August 2026 contract climbed RM143 to RM4,740.
Trading volume declined to 104,0552 lots from 119,026 on last Friday, while open interest went up to 242,882 contracts from 236,911 contracts previously.
The physical CPO price for April South increased by RM140 to RM4,700 per tonne.
-- BERNAMA
