By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, March 4 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Tuesday, in line with the weaker soybean oil performance on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.
He said the market sentiment was also weighed down by expectations of sluggish demand in the coming weeks.
“We expect the CPO price to find support at RM4,280 per tonne and resistance at RM4,500 per tonne,” he told Bernama.
At the close, the March 2025 contract fell RM82 to RM4,600 per tonne, April 2025 lost RM129 to RM4,456 per tonne, and May 2025 decreased RM135 to RM4,349 per tonne.
June 2025 declined RM131 to RM4,251 per tonne, July 2025 dropped RM119 to RM4,171 per tonne, and August 2025 slipped RM107 to RM4,124 per tonne.
Trading volume rose to 91,888 lots from 50,914 lots yesterday, while open interest reduced to 238,082 contracts compared to 241,061 contracts previously.
The physical CPO price for March South fell RM100 to RM4,700 per tonne.
-- BERNAMA
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