CPO FUTURES END LOWER ON ANTICIPATION OF HIGHER CPO OUTPUT

By Harizah Hanim Mohamed

KUALA LUMPUR, April 28 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, weighed down by the anticipation of rising output in coming weeks and weaker soybean oil prices, said palm oil trader David Ng. 

Ng noted that the support level for CPO prices stood at RM3,850 per tonne, with the resistance level at RM4,080 per tonne.

Echoing this sentiment, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said the market saw profit-taking after a noticeable rise last week, coupled with losses in related vegetable oils, cautiousness ahead of April supply and demand estimates, and escalating production, which weighed down on CPO futures.

It was reported that profit-taking activities in Chinese vegetable oil futures, specifically on the Dalian Commodity Exchange and Zhengzhou Commodity Exchange, further amplified this bearish sentiment.  

At the close, the May 2025 contract lost RM99 to RM4,040 per tonne, June 2025 reduced RM95 to RM3,989 per tonne, July 2025 erased RM92 to RM3,965 per tonne, and August 2025 was down by RM85 at RM3,962 per tonne.

September 2025 slipped RM83 to RM3,956 per tonne, and October 2025 reduced RM78 to RM3,951 per tonne. 

Trading volume fell to 51,205 lots from 92,662 lots on last Friday, while open interest slipped to 236,253 contracts from 239,137 contracts  previously.

The physical CPO price for May South stood at RM4,150 per tonne.

-- BERNAMA