By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, April 9 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday, amid a global commodity sell-off triggered by the implementation of US tariffs, according to palm oil trader David Ng.
He added that declining crude oil and soybean oil prices also contributed to the negative sentiment in the market.
“We see support at RM4,100 and resistance at RM4,300 per tonne,” he told Bernama.
At the close, the April 2025 contract fell by RM138 to RM4,426 per tonne, May 2025 declined by RM41 to RM4,299 per tonne, while June 2025 and July 2025 contracts shed RM40 each to RM4,148 and RM4,061 per tonne, respectively.
August 2025 lost RM47 to RM4,011 per tonne and September 2025 slipped RM54 to RM3,985 per tonne.
Trading volume increased to 132,491 lots from 122,240 lots on Tuesday, while open interest declined to 248,610 contracts from 252,515 contracts previously.
The physical CPO price for April South fell by RM50 to RM4,600 per tonne.
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