By K Naveen Prabu
KUALA LUMPUR, June 23 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher today, supported by firmer crude oil and soybean oil prices.
Palm oil trader David Ng said the surge in prices was primarily driven by heightened geopolitical tensions in the Middle East.
“We see support at RM4,050 per tonne and resistance at RM4,250,” he told Bernama.
At the close, the spot-month July contract rose RM16 to RM4,087 per tonne, while August 2025 increased RM12 to RM4,119 per tonne and September 2025 added RM8 to RM4,126 per tonne.
October 2025 and November 2025 each climbed RM10 to RM4,125 and RM4,128 per tonne, respectively, while December 2025 advanced RM15 to RM4,141 per tonne.
Trading volume decreased to 50,757 lots from 63,777 on Friday, while open interest increased to 232,160 contracts from 231,757 previously.
The physical CPO price for July South decreased by RM20 to RM4,100 per tonne.
-- BERNAMA
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