By Abdul Hamid A Rahman
KUALA LUMPUR, Dec 29 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Monday as the market remained wary of rising stock levels.
Kuala Lumpur-based Iceberg X Sdn Bhd proprietary trader David Ng said prices were pressured by expectations of higher domestic inventories, which weighed on sentiment.
“CPO ended lower as the market stayed cautious over elevated stock levels,” he told Bernama.
He said the softer close reflected defensive trading, with participants factoring in rising inventories that pointed to near-term supply pressure and reduced the urgency to build long positions.
Ng said prices were likely to find support at RM4,000 per tonne, with resistance seen at RM4,150.
Industry data from the Malaysian Palm Oil Board showed Malaysia’s CPO stockpiles rose 17.56 per cent month-on-month to 1.74 million tonnes in November 2025, from October levels.
At the close, the January 2026 contract fell RM51 to RM4,009 per tonne, February 2026 slipped RM44 to RM4,038, and March 2026 lost RM42 to RM4,047.
The April 2026 contract eased RM36 to RM4,049 per tonne, May 2026 declined RM31 to RM4,041, and June 2026 dropped RM23 to RM4,026.
Trading volume fell to 38,112 lots from 50,937 on Friday, while open interest rose to 258,679 contracts from 257,694 previously.
The physical CPO price for January South eased RM50 to RM4,030 per tonne.
-- BERNAMA
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