By K. Naveen Prabu
KUALA LUMPUR, March 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today due to concerns about weak export demand in the coming weeks.
Iceberg X Sdn Bhd proprietary trader David Ng said that the US-Iran conflict is, however, expected to support sentiment in the near term.
“We see CPO prices supported above RM4,100 with resistance at RM4,250 per tonne,” he told Bernama.
At the close, the March 2026 and April 2026 contracts fell RM9 each to RM4,071 and RM4,155 per tonne, respectively, while the May 2026 contract slipped RM7 to RM4,179 per tonne.
The June 2026 contract eased RM5 to RM4,189 per tonne, while the July 2026 and August 2026 contracts edged down RM4 each to RM4,188 and RM4,180 per tonne, respectively.
Trading volume decreased to 76,192 lots from 85,265 on Tuesday, while open interest went down to 221,298 contracts from 225,871 contracts previously.
The physical CPO price for March South remained unchanged at RM4,100 per tonne.
-- BERNAMA
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