CPO Futures Close Lower Amid Concerns Over Rising Output
By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, June 30 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Tuesday due to concerns over rising production in the coming weeks.
Iceberg X Sdn Bhd proprietary trader David Ng said the weakness in the soybean oil market further weighed on sentiment.
"We see prices supported above RM4,500 per tonne and resistance at RM4,680," he told Bernama.
At the close, the spot month July 2026 contract dropped RM49 to RM4,474 per tonne, the August 2026 contract lost RM40 to RM4,518, and the September 2026 contract reduced RM42 to RM4,546 per tonne.
The October 2026 and November 2026 contracts lost RM43 each to RM4,569 and RM4,590, respectively, and the December 2026 contract decreased by RM38 to RM4,615.
The trading volume rose to 75,359 lots from 43,096 on Monday, while open interest slid to 288,947 contracts from 285,102 previously.
The physical CPO price for July South decreased by RM50 to RM4,500 per tonne.
-- BERNAMA