By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, April 7 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower amid a global commodities sell-off triggered by uncertainty over US tariffs, said palm oil trader David Ng.
He attributed the decline to falling Brent crude oil and soybean oil prices, which added further pressure.
“We see support at RM4,100 and resistance at RM4,300,” he told Bernama.
At the close, the April 2025 contract fell RM140 to RM4,562 per tonne. The May 2025 and July 2025 contracts each dropped RM136, settling at RM4,338 and RM4,094, respectively.
The June 2025 contract declined RM143 to RM4,185 per tonne, the August 2025 contract lost RM121 to RM4,042, and the September 2025 contract fell RM101 to RM4,023.
Trading volume surged to 110,726 lots, up from 90,621 lots at last Friday’s close, while open interest eased to 253,375 contracts from 254,177 contracts previously.
The physical CPO price for April South fell RM130 to RM4,650 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
