By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, Jan 31 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives climbed for the fourth consecutive day of trading on Friday due to higher soybean oil prices as well as weaker production outlook in the coming weeks, a dealer said.
Palm oil dealer David Ng said CPO production would only resume growth from March onwards based on seasonal pattern.
“We see support at RM4,150 (per tonne) and resistance at RM4,350,” he told Bernama.
At the close, the February 2025 contract increased by RM17 to RM4,552 per tonne, March 2025 gained RM12 to RM4,404 per tonne, and April 2025 rose RM10 to RM4,289 per tonne.
May 2025 improved RM8 to RM4,198 per tonne, June 2025 added RM5 to RM4,140 per tonne, and July 2025 edged up RM2 to RM4,101 per tonne.
Trading volume decreased to 51,221 lots from 59,656 lots on Tuesday, while open interest expanded to 219,710 contracts from 219,153 previously.
The market was closed on Jan 29 and Jan 30 in conjunction with the Chinese New Year public holiday.
The physical CPO price for February South remained unchanged at RM4,650 per tonne.
-- BERNAMA
