KUALA LUMPUR, Dec 13 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday, pressured by stronger soybean oil prices on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.
However, he noted that expectations of reduced output in the coming weeks provided some support, limiting further losses.
“We see support at RM4,750 per tonne and resistance at RM5,000 per tonne,” he told Bernama.
At the close, the December 2024 spot month contract fell RM20 to RM5,140 per tonne, January 2025 dropped RM7 to RM4,994 per tonne, and February 2025 declined RM15 to RM4,906 per tonne.
March 2025 eased RM10 to RM4,816 per tonne, April 2025 slipped RM8 to RM4,689, and May 2025 dropped RM8 to RM4,562.
Trading volume decreased to 101,852 lots from 119,534 lots on Thursday, while open interest rose to 241,421 contracts from 238,860 previously.
The physical CPO price for December South dropped RM60 to RM5,200 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
