By Muhammad Fawwaz Thaqif Nor Afandi & Durratul Ain Ahmad Fuad
KUALA LUMPUR, Jan 6 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Tuesday amid concern over higher stock levels in the country and the weaker soybean oil prices on the Chicago Board of Trade (CBOT).
Kuala Lumpur-based proprietary trader David Ng of Iceberg X Sdn Bhd said that the higher stock levels in the country are mainly due to weak seasonal demand and low competitive vegetable oil prices.
“Malaysia’s stock levels are currently expected to reach three million tonnes, higher than the historical average, reflecting a high stock build-up situation in the country.
“We see support above RM3,950 per tonne and resistance at RM4,100 per tonne,” he told Bernama.
At the close, the January 2026 and February 2026 contracts slipped RM22 each to RM3,928 per tonne and RM3,973 per tonne, respectively.
March 2026 eased RM24 to RM3,990 per tonne, April 2026 slid RM28 to RM4,000 per tonne, May 2026 fell RM31 to RM4,001 per tonne, and June 2026 shed RM37 to RM3,991 per tonne.
Trading volume jumped to 63,848 lots from 40,027 lots on Monday, while open interest edged down to 257,198 contracts from 259,729 contracts previously.
The physical CPO price for January South fell RM20 to RM3,980 per tonne.
-- BERNAMA
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