CPO Futures End Mostly Lower On Profit-taking
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Jan 23 (Bernama) -- Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed mostly lower on Thursday on extended profit-taking following concerns over weaker demand in the coming weeks, a dealer said.
Palm oil dealer David Ng said the demand is seen to be weaker due to the festive season.
“We see support at RM4,100 a tonne and resistance at RM4,300,” he told Bernama.
At the close, new contract month February 2025 rose RM4 to RM4,468 per tonne and March 2025 inched up RM1 to RM4,320 per tonne.
In contrast, the April 2025 contract eased RM18 to RM4,190 per tonne, May 2025 dropped RM38 to RM4,096 per tonne, June 2025 reduced RM51 to RM4,045 per tonne, and July 2025 fell RM55 to RM4,025 per tonne.
Trading volume increased to 82,557 lots from 59,237 lots yesterday, while open interest rose to 222,061 contracts from 220,165 previously.
The physical CPO price for February South shrank RM30 to RM4,570 per tonne.
-- BERNAMA