By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, March 20 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed mostly higher on Thursday, tracking expectations of lower output in coming weeks due to the current flood situation in Johor, said palm oil trader David Ng.
He said gains in the soybean oil market also supported the rise in CPO prices.
“We see support at RM4,300 and resistance at RM4,580,” he told Bernama today.
At the close, the new spot month of April 2025 jumped RM35 to RM4,669 per tonne, May 2025 climbed by RM37 to RM4,529, and June 2025 increased by RM24 to RM4,413.
The July 2025 contract gained RM13 to RM4,299 per tonne, and August 2025 inched up RM1 to RM4,215, but September 2025 dropped RM12 to RM4,163.
Trading volume surged to 111,206 lots from 96,070 on Wednesday’s close, while open interest rose to 260,294 contracts from 250,149 contracts previously.
The physical CPO price for March South surged by RM40 to RM4,820 per tonne.
-- BERNAMA
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