By Rosemarie Khoo
KUALA LUMPUR, April 24 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally lower today due to concerns over rising output in the coming weeks, said palm oil trader David Ng.
“We see support at RM3,950 per tonne and resistance at RM4,100 per tonne,” Ng told Bernama.
Mumbai-based Sunvin Group commodity research head Anilkumar Bagani meanwhile said the easing buying momentum from key destinations, particularly India, also contributed to the softer market sentiment.
“Looking ahead, the market will be anticipating palm oil export data for April 1-25, as well as any potential revisions to Indonesia’s palm oil export levy,” he said.
At the close, the May 2025 contract eased RM7 to RM4,135 per tonne, June 2025 was flat at RM4,076 per tonne, July 2025 fell RM1 to RM4,036 per tonne, while August 2025 was unchanged at RM4,026 per tonne.
September 2025 gained RM3 to RM4,020 per tonne and October 2025 rose RM3 to RM4,014 per tonne.
Trading volume tumbled to 64,921 lots from 95,905 lots on Wednesday, while open interest declined to 234,310 contracts from 235,722 contracts yesterday.
The physical CPO price for May South remained at RM4,200 per tonne.
-- BERNAMA
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