By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Oct 5 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, supported by bargain buying following last week’s price decline.
Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was also supported by firmer competing vegetable oils.
“However, concerns over elevated domestic inventories continued to cap gains in CPO prices.
“We see prices supported around RM4,450 per tonne, with resistance at RM4,600 per tonne,” he told Bernama.
At the close, the October 2026 contract rose RM36 to RM4,390 per tonne, while the November 2026 contract strengthened by RM39 to RM4,480 per tonne and the December 2026 contract advanced RM43 to RM4,578 per tonne.
Meanwhile, the January 2027 contract gained RM45 to RM4,672 per tonne, February 2027 climbed RM52 to RM4,761 per tonne, and March 2027 added RM55 to RM4,841 per tonne.
Trading volume fell to 87,313 lots from 164,637 on Friday, while open interest declined to 329,113 contracts from 334,658 previously.
The physical CPO price for October South added RM20 to RM4,420 per tonne.
-- BERNAMA