By Durratul Ain Ahmad Fuad
KUALA LUMPUR, May 6 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today, reversing earlier gains, weighed down by concerns over strong output and expectations of rising stock levels in coming weeks.
Palm oil trader David Ng said the market opened higher in the morning but softened and closed lower in the afternoon, as stronger soyabean oil prices during Asian trading hours and recent low palm oil prices attracted buying interest earlier in the day.
“We see prices supported at RM3,750 per tonne and resistance at RM3,950 per tonne,” he told Bernama.
At the close, May 2025 erased RM94 to RM3,795 per tonne, June 2025 fell by RM53 to RM3,802 per tonne, July 2025 went down RM35 to RM3,792 per tonne, August 2025 slipped RM32 to RM3,792 per tonne, September 2025 eased RM37 to RM3,787 per tonne, and October 2025 edged down RM34 to RM3,788 per tonne.
Trading volume advanced to 70,080 lots from 53,012 yesterday, while open interest slid to 233,382 contracts from 233,677 contracts previously.
The physical CPO price for May South was RM40 lower at RM3,880 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
