CPO Futures End Mostly Lower On Weaker Export Sentiment
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, March 11 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended mostly lower as sentiment weakened due to slower export pace, which dragged prices down, traders said.
Palm oil trader David Ng noted that market players will closely monitor export estimates and production outlook in the coming weeks.
"The stronger ringgit against the US dollar is also contributing to the subdued sentiment," he told Bernama.
On a technical perspective, the CPO price is supported at RM4,400 per tonne and resistance is at RM4,680 per tonne.
At the close, the March 2025 contract fell by RM39 to RM4,737 per tonne, April 2025 increased RM17 to RM4,633 per tonne, and May 2025 decreased RM11 to RM4,488 per tonne.
Meanwhile, June 2025 contract declined RM12 to RM4,370 per tonne, July 2025 dropped RM4 to RM4,274 per tonne, and August 2025 shed RM3 to RM4,212 per tonne.
Trading volume rose to 114,939 lots from 95,316 lots on Monday, while open interest slipped to 239,274 contracts from 244,496 contracts previously.
The physical CPO price for March South eased RM10 to RM4,840 per tonne.
-- BERNAMA