By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, March 20 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Friday, pressured by weaker soybean oil futures in the Chicago Board of Trade (CBOT) and a slower Malaysian palm oil export performance, an analyst said.
Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said in a report that cargo surveyor Intertek Testing Services (ITS) had estimated Malaysian palm oil exports dropping by 14.2 per cent to 629,687 tonnes from March 1-20, compared to the same period in February.
“While cargo surveryor Societe Generale de Surveillance predicted Malaysian palm oil exports to fall by 6.62 per cent to 552,622 tonnes from March 1-20,” he told Bernama.
At the close, the new spot month of April 2025 eased RM18 to RM4,651 per tonne, May 2025 slid by RM22 to RM4,507, while June 2025, August 2025 and September 2025 were down by RM38 each to RM4,375, RM5,896 and RM4,125.
Meanwhile, the July 2025 contract decreased by RM39 to RM4,260 per tonne.
Trading volume fell to 76,908 lots from 111,206 during Thursday’s close, while open interest declined to 256,932 contracts from 260,294 contracts previously.
The physical CPO price for March South was RM40 lower to RM4,780 per tonne.
-- BERNAMA
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