By Anas Abu Hassan
KUALA LUMPUR, Feb 28 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rebounded to end the week higher, tracking strong performance in soybean oil, according to an analyst.
Palm oil trader David Ng noted that ongoing concerns over weak output growth, along with anticipation of lower stock levels in the country, provided support to the CPO price.
“We see prices supported at RM4,500 per tonne and resistance at RM4,700 per tonne,” he told Bernama.
At the close, the March 2025 contract increased RM33 to RM4,729 per tonne, April 2025 added RM41 to RM4,645 per tonne, and May 2025 gained RM43 to RM4,554 per tonne.
Meanwhile, June 2025 advanced RM42 to RM4,455 per tonne, July 2025 rose RM37 to RM4,364 per tonne, and August 2025 was up RM35 to RM4,302 per tonne.
Trading volume declined to 76,860 lots from 89,684 lots yesterday, while open interest improved to 241,330 contracts compared to 239,333 contracts previously.
The physical CPO price for March South rose RM20 to RM4,800 per tonne.
-- BERNAMA
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