CPO Futures End Lower On Weaker Crude Oil Prices
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, May 25 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Monday, weighed down by weaker crude oil prices, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said lower crude oil prices affected palm oil prices, given its widespread use as a biofuel feedstock.
At the time of writing, Brent crude fell 5.28 per cent to US$98.07 per barrel.
He said expectations of slower demand in the coming weeks also added pressure on prices.
“There is slower demand from India mainly because other cheaper vegetable oils are making palm oil less competitive.
“We see prices supported at RM4,400 and resistance at RM4,580,” he told Bernama.
At the close, the June 2026 contract declined RM20 to RM4,410 per tonne, July 2026 decreased RM17 to RM4,446 per tonne, and August 2026 inched down RM13 to RM4,473 per tonne.
September 2026 lost RM9 to RM4,493 per tonne while October and November 2026 were down by RM8 to RM4,517 and RM4,544 per tonne respectively.
Trading volume decreased to 57,304 lots from 76,909 lots last Friday, while open interest rose to 282,395 contracts from 280,499 contracts previously.
The physical CPO price for June South was lower by RM50 to RM4,450 per tonne.
-- BERNAMA