CPO Futures End Higher On Weak Output Expectations

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Jan 24 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher, driven by expectations of weak output in the coming weeks, in line with the seasonal trend, said palm oil dealer David Ng.

He noted that higher crude oil prices during Asian hours also boosted market sentiment.

"We see support at RM4,150 a tonne and resistance at RM4,330," he told Bernama.

At the close, the February 2025 contract rose RM20 to RM4,488 per tonne, while March 2025 climbed RM30 to RM4,350 per tonne.

The April 2025 contract gained RM26 to RM4,216 per tonne, May 2025 advanced RM14 to RM4,110 per tonne, and June 2025 edged up RM7 to RM4,052 per tonne. The July 2025 contract remained unchanged at RM4,025 per tonne.

Trading volume increased to 108,617 lots from 82,557 lots the previous day, while open interest rose to 222,762 contracts from 222,061.

The physical CPO price for February South dropped RM20 to RM4,550 per tonne.

-- BERNAMA