By Durratul Ain Ahmad Fuad
KUALA LUMPUR, April 14 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, weighed down by concerns over weak demand and rising output in coming weeks.
Palm oil trader David Ng said that the weak demand is due to cheaper alternative vegetable oils, such as soybean oil.
“The rising output is in line with the seasonal trend of higher production during this period. We expect the upward trend in production to continue until September.
“Therefore, we see support at RM4,100 per tonne and resistance at RM4,300 per tonne,” he told Bernama.
At the close, the April 2025 contract fell RM107 to RM4,354 per tonne, May 2025 decreased RM40 to RM4,293, June 2025 went down RM42 to RM4,170, July 2025 contract slid RM33 to RM4,107 per tonne, August 2025 eased RM28 to RM4,072, and September 2025 weakened RM26 to RM4,048 per tonne.
Trading volume declined to 80,065 lots from 85,695 lots last Friday, while open interest rose to 244,009 contracts from 243,199 previously.
The physical CPO price for April South remained unchanged at RM4,520 per tonne.
-- BERNAMA
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