By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Dec 2 (Bernama) -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today as weaker exports weighed down market sentiment.
Palm oil dealer David Ng said, citing independent inspection company AmSpec Agri Malaysia, that Malaysian palm oil exports for Nov 1-30 fell 10.35 per cent month-on-month due to the seasonally lower demand for palm oil.
“Weaker soybean oil prices also added pressure on prices.
“We see CPO prices supported at RM4,850 and resistance at RM5,050,” he told Bernama.
At the close, the spot month December 2024 contract eased RM21 to RM5,217 per tonne, January 2025 fell by RM46 to RM5,079, February 2025 slid RM65 to RM4,955, March 2025 narrowed by RM80 to RM4,823 per tonne, April 2025 declined by RM83 to RM4,689 and May 2025 went down RM79 to RM4,561.
Trading volume slipped to 65,864 lots from 109,758 lots on Friday while open interest rose to 229,527 contracts from 227,559.
The physical CPO price for December South lost RM20 to RM5,280 per tonne.
-- BERNAMA
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