By K. Naveen Prabu
KUALA LUMPUR, March 25 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today, tracking weaker crude oil prices amid easing US-Iran conflict, a trader said.
At the time of writing, Brent crude oil fell 4.45 per cent to US$99.84 per barrel (US$1=RM3.94).
Iceberg X Sdn Bhd proprietary trader David Ng said lower soybean oil prices also added pressure on palm oil, as both commodities compete in the global edible oil market.
“We see CPO prices supported above RM4,450 per tonne, with resistance at RM4,600 per tonne,” he told Bernama.
At the close, the April 2026 contract fell RM58 to RM4,445 per tonne, May 2026 declined RM47 to RM4,495 per tonne, and June 2026 slipped RM41 to RM4,496 per tonne.
The July 2026 contract dropped RM32 to RM4,480 per tonne, and August 2026 eased RM22 to RM4,460 per tonne, while September 2026 slid RM13 to RM4,438 per tonne.
Trading volume increased to 90,703 lots from 65,523 on Tuesday, while open interest went up to 237,177 contracts from 233,457 contracts previously.
The physical CPO price for April South decreased RM40 to RM4,500 per tonne.
-- BERNAMA
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