By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, April 4 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower as the global sell-off in commodities spilled over into the palm oil market, according to palm oil trader David Ng.
The lower crude oil and soybean oil prices also pressured market sentiment negatively, he added.
“We see support at RM4,200 and resistance at RM4,500 a tonne,” Ng told Bernama.
At the close, the April 2025 contract dropped RM109 to RM4,702 per tonne, May 2024 decreased RM143 to RM4,474 per tonne, and June 2025 dipped RM161 to RM4,328 per tonne.
The July 2025 contract declined by RM153 to RM4,230 per tonne, August 2025 lost RM139 to RM4,163per tonne, and September 2025 fell RM128 to RM4,124 per tonne.
Trading volume surged to 90,621 lots from 65,131 lots on Thursday, while open interest eased to 254,177 contracts from 256,811 contracts yesterday.
The physical CPO price for April South was RM70 lower at RM4,780 per tonne.
-- BERNAMA
