By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Oct 9 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Friday as an export duty waiver for the commodity failed to materialise in Budget 2027.
Iceberg X Sdn Bhd proprietary trader David Ng said market optimism weakened following the absence of an announcement on the proposed waiver.
“CPO futures reversed momentum as optimism over a possible Malaysian export duty waiver faded after the anticipated announcement failed to materialise. We see support at RM4,500 with resistance at RM4,680,” he told Bernama
At the close, the October and November 2026 contracts fell RM86 to RM4,362 and RM4,465 per tonne, respectively, while the December 2026 contract lost RM69 to RM4,592 per tonne.
Meanwhile, the January 2027 contract slid RM58 to RM4,709 per tonne, February 2027 fell RM44 to RM4,810, and March 2027 dipped RM23 to RM4,902.
Trading volume slipped to 145,207 lots from 160,977 on Thursday, while open interest improved to 337,867 contracts from 333,864 previously.
The physical CPO price for October South declined RM10 to RM4,450 per tonne.
-- BERNAMA