By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, March 6 (Bernama) -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Thursday due to production concerns in the upcoming weeks, a trader said.
Palm oil trader David Ng said that the ongoing trade war tension between the United States and China also lifted sentiment in the palm oil market.
“We expect the CPO price to find support at RM4,400 per tonne and resistance at RM4,600 per tonne,” he told Bernama.
At the close, the March 2025 contract edged up RM75 to RM4,744 per tonne, April 2025 gained RM62 to RM4,582 per tonne, and May 2025 increased RM63 to RM4,480 per tonne.
Meanwhile, June 2025 contract climbed RM61 to RM4,383, July 2025 ticked up RM44 to RM4,286, while August 2025 advanced RM33 to RM4,222 per tonne.
Trading volume soared to 107,247 lots from 90,251 lots yesterday, while open interest surged to 239,817 contracts from 236,629 contracts previously.
The physical CPO price for March South added RM40 to RM4,800 per tonne.
-- BERNAMA
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