By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Feb 17 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday, driven by higher palm olein prices on the Dalian Commodity Exchange, said palm oil trader David Ng.
He said the higher closing price was also driven by expectations of seasonally weaker output in the coming week.
“We see prices supported at RM4,500 per tonne, with resistance at RM4,600 per tonne,” Ng told Bernama.
At the close, the March 2025 contract increased by RM42 to RM4,742 per tonne, April 2025 was up by RM40 to RM4,632 per tonne, and May 2025 climbed RM43 to RM4,542 per tonne.
June 2025 rose RM45 to RM4,449 per tonne, while July 2025 and August 2025 gained RM44 each to RM4,365 per tonne and RM4,304 per tonne, respectively.
Trading volume shrank to 77,429 lots from 107,707 lots last Friday, while open interest widened to 232,195 contracts from 230,867 previously
The physical CPO price for February South rose RM50 to RM4,850 per tonne.
-- BERNAMA
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