CPO Futures Close Lower As Profit-taking Emerges
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Oct 6 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Tuesday as profit-taking emerged following yesterday’s rebound.
Iceberg X Sdn Bhd proprietary trader David Ng said the softer crude oil prices and concerns over elevated domestic inventories weighed on sentiment.
At the time of writing, Brent crude declined 2.57 per cent to US$97.74 per barrel.
“The softer crude oil prices affected palm oil prices, given its widespread use as a biofuel feedstock.
“We see prices supported around RM4,500 per tonne, with resistance at RM4,650 per tonne,” he told Bernama.
At the close, the October 2026 contract decreased RM50 to RM4,340 per tonne, the November 2026 contract slipped by RM23 to RM4,457 per tonne, and the December 2026 contract edged down RM18 to RM4,560 per tonne.
Meanwhile, the January 2027 contract slid RM9 to RM4,663 per tonne, February 2027 fell RM3 to RM4,758 per tonne, and March 2027 added RM2 to RM4,843 per tonne.
Trading volume rose to 92,828 lots from 87,313 on Monday, while open interest inched up to 329,375 contracts from 329,113 previously.
The physical CPO price for October South eased RM40 to RM4,380 per tonne.
-- BERNAMA