CPO Futures Decline On Weak Demand Concerns
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Feb 13 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives fell on Thursday, dragged down by concerns over weak demand in the coming weeks, a dealer said.
Palm oil trader David Ng said the weaker performance of palm olein futures contracts on the Dalian Commodity Exchange and soybean oil contracts also weighed on price sentiment today.
“We expect the CPO price to find support at RM4,500 per tonne and resistance at RM4,680 per tonne,” he told Bernama.
At the close, the February 2025 contract fell RM107 to RM4,768 per tonne, March 2025 dipped RM60 to RM4,666 per tonne and April 2025 declined RM67 to RM4,554 per tonne.
May 2025 reduced RM72 to RM4,457 per tonne, June 2025 dropped RM73 to RM4,360 per tonne and July 2025 went down RM69 to RM4,281 per tonne.
Trading volume shrank to 97,142 lots from 119,246 lots yesterday, while open interest widened to 227,425 contracts from 225,625 previously.
The physical CPO price for February South eased RM50 to RM4,850 per tonne.
-- BERNAMA