By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, April 8 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher, snapping a three-day losing streak on bargain hunting.
However, gains were limited by a report on Indonesia revising export levy, making Malaysian palm oil less competitive, said palm oil trader David Ng.
He said weaker export demand continues to pressure the CPO prices.
“We see support at RM4,100 and resistance at RM4,350,” he told Bernama.
At the close, the April 2025 and May contracts inched up by RM2 each to RM4,564 and RM4,340 per tonne, respectively, while June 2025 is marginally higher by RM3 to RM4,188.
The July 2025 contract added RM7 to RM4,101 per tonne, while August 2025 and September 2025 contracts gained RM16 each to RM4,058 and RM4,039, respectively.
Trading volume surged to 122,240 lots from 110,726 lots at Monday’s close, while open interest eased to 252,515 contracts from 253,375 contracts previously.
The physical CPO price for April South remains unchanged at RM4,650 per tonne.
-- BERNAMA
