By Abdul Hamid A Rahman
KUALA LUMPUR, Sept 29 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower today, tracking weak regional vegetable oil markets, including the Dalian Commodity Exchange.
Iceberg X Sdn Bhd proprietary trader David Ng said the weaker performance in competing vegetable oils weighed on sentiment in the local palm oil market.
He said rising domestic inventory concerns also put pressure on prices.
“The increase in stocks was linked to improving production, which added to expectations of higher supplies in the market.
“The prospect of higher supplies kept buying interest cautious and limited support for CPO prices during the trading session,” he told Bernama.
Ng said prices are expected to find support at RM4,550 per tonne and resistance at RM4,700 per tonne.
At the close, the October 2026 contract fell RM33 to RM4,433 per tonne, while the November 2026 contract declined RM33 to RM4,523 per tonne, and the December 2026 contract eased RM40 to RM4,624 per tonne.
The January 2027 contract fell RM43 to RM4,731 per tonne, February 2027 declined RM46 to RM4,830 per tonne, and March 2027 decreased RM42 to RM4,926 per tonne.
Trading volume rose to 114,553 lots from 92,860 on Monday, while open interest rose to 339,820 contracts from 338,007 previously.
The physical CPO price for October South was at RM4,500 per tonne.
-- BERNAMA