By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Feb 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Wednesday, supported by expectations of lower inventories and stronger export demand, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said buying interest was underpinned by expectations that exports would pick up in the coming weeks.
“We see CPO prices supported above RM4,200, with resistance at RM4,350,” he told Bernama.
At the close, the February 2026 contract edged up RM1 to RM4,141 per tonne, while March 2026 rose RM2 to RM4,197. April 2026 and June contracts gained RM10 each to RM4,225 and RM4,214, respectively.
The May 2026 contract advanced RM8 to RM4,225 per tonne, while July 2026 climbed RM14 to RM4,199.
Trading volume rose to 74,924 lots from 58,671 on Tuesday, while open interest slipped to 217,779 contracts from 219,350 previously.
In the physical market, the February South CPO price eased RM10 to RM4,180 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
