By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Feb 3 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today on concern over the stronger ringgit against the US dollar, which will affect the demand for the commodity in the near term, a trader said.
At 6 pm, the ringgit rebounded to 3.9295/9360 against the US dollar, up from Friday’s 3.9440/9500 close as trading resumed following the Thaipusam and Federal Territory Day holiday on Monday.
Proprietary trader David Ng of Iceberg X Sdn Bhd said high stock levels in the country is also weighing down on market sentiment.
“We see (CPO) prices supported above RM4,150 and resistance at RM4,300,” he told Bernama.
At the close, the February 2026 contract fell RM20 to RM4,140 per tonne, March 2026 and April 2026 contracts slipped RM14 each to RM4,195 and RM4,215.
The May 2026 contract eased RM11 to RM4,217 per tonne, June 2026 and July 2026 contracts inched down RM9 each to RM4,204, and RM4,185.
Trading volume decreased to 58,671 lots from 84,668 last Friday, while open interest went down to 219,350 contracts from 220,712 previously.
The physical CPO price for February South decreased by RM10 to RM4,190 per tonne.
-- BERNAMA
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