By K. Naveen Prabu
KUALA LUMPUR, July 11 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today, supported by firm export performance.
Palm oil trader David Ng says Malaysia's palm oil continues to see healthy demand from major importers.
He noted that stronger palm oil prices on China’s Dalian Commodity Exchange also lifted market sentiment.
“China is a key buyer of palm oil, so when prices there increase, it signals strong demand that helps support prices in Malaysia.
“We see support at RM4,100 per tonne and resistance at RM4,250,” he told Bernama.
Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said futures opened sharply higher in early trade, with the most-active September contract trading between RM4,125 and RM4,235 per tonne, testing a three-month high.
“Futures pulled back toward midday as traders took profit ahead of the weekend, locking in gains from the morning rally,” he said.
At the close, the spot-month July contract rose RM31 to RM4,070 per tonne, August 2025 added RM26 to RM4,144 per tonne, and September 2025 gained RM28 to RM4,174 per tonne.
October 2025 climbed RM30 to RM4,177 per tonne, November 2025 advanced RM32 to RM4,174 per tonne, and December 2025 increased RM28 to RM4,175 per tonne.
Trading volume went down to 87,673 lots from 100,487 lots on Thursday, while open interest increased to 231,427 contracts from 226,285 contracts previously.
The physical CPO price for July South increased by RM10 to RM4,160 per tonne.
-- BERNAMA