By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Dec 26 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Thursday following concerns over weaker demand in the coming weeks, which might raise the overall stock level in the country, said a dealer.
Palm oil dealer David Ng said demand tends to be weaker towards the end of the year based on seasonal patterns.
“We see support at RM4,480 per tonne and resistance at RM4,750 per tonne,” Ng told Bernama.
Meanwhile, independent inspection company AmSpec Agri Malaysia said the export of Malaysian palm oil products for Dec 1-25 fell 1.1 per cent to 1.14 million tonnes from 1.16 million tonnes shipped during the same period last year.
At the close, the January 2025 contract increased by RM5 to RM4,900 per tonne, while the February 2025 contract lost RM3 to RM4,698 per tonne, and March 2025 dropped RM15 to RM4,543 per tonne.
Meanwhile, the April 2025 contract was down RM23 to RM4,398 per tonne, while May 2025 slid by RM18 to RM4,294 per tonne and June 2025 slipped RM21 to RM4,226 per tonne.
Trading volume eased to 42,211 lots from 47,182 lots yesterday, while open interest declined to 239,482 contracts from 240,879 contracts previously.
The physical CPO price for January South was unchanged at RM5,000 per tonne.
-- BERNAMA
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