CPO Futures End Higher On Firmer Crude Oil Prices

By Danni Haizal Danial Donald

KUALA LUMPUR, March 11 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives finished higher on Wednesday, mainly supported by firmer crude oil prices.

Iceberg X Sdn Bhd proprietary trader David Ng said oil prices were gaining momentum amid the ongoing conflict in West Asia, which supported market sentiment.

“Hence, we see prices supported above RM4,400 per tonne and resistance at RM4,600 per tonne,” he told Bernama.

At the time of writing, Brent crude oil rose 4.29 per cent to US$90.95 per barrel.

Meanwhile, reports said near-term CPO prices are projected to average between RM4,100 and RM4,200 per tonne in 2026.

This is supported by stronger crude oil prices that could improve biodiesel economics and support Indonesia’s potential B50 mandate.

At the close, the March 2026 and April 2026 contracts gained RM73 each to RM4,385 and RM4,471 per tonne, respectively, while the May 2026 contract rose RM71 to RM4,499 per tonne.

The June 2026 contract increased RM65 to RM4,493 per tonne, the July 2026 contract went up RM59 to RM4,471 per tonne, and the August 2026 contract advanced RM56 to RM4,440 per tonne.

Trading volume shrank to 94,388 lots from 147,182 on Tuesday, while open interest eased to 224,565 contracts from 226,797 contracts previously.

The physical CPO price for March South strengthened by RM70 to RM4,440 per tonne.

-- BERNAMA