CPO FUTURES END LOWER ON OUTPUT CONCERNS, WEAK EXPORTS

By Abdul Hamid A Rahman

KUALA LUMPUR, April 30 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Wednesday, weighed down by expectations of rising production and subdued export demand that could lift domestic stock levels, said palm oil trader David Ng.

He said the market turned cautious as traders anticipated a seasonal increase in output over the coming weeks, which may outstrip consumption and further pressure prices.

“Demand remains sluggish, particularly from major buyers such as India and China, with importers hesitant due to ample global vegetable oil supply and price volatility.

“Without a meaningful improvement in exports, the expected rise in production could lead to higher domestic inventories, adding to the market’s downside,” he told Bernama.

Ng placed immediate support at RM3,800 a tonne and resistance at RM4,100.

At the close, May 2025 erased RM39 to RM3,971 per tonne, June 2025 fell RM35 to RM3,938, and July 2025 eased RM32 to RM3,911.

August 2025 declined RM30 to RM3,905 per tonne, September 2025 slipped RM26 to RM3,902, and October 2025 lost RM20 to RM3,904.

Trading volume rose to 64,943 lots from 55,576 on Tuesday, while open interest narrowed to 233,859 contracts from 234,571 previously.

Meanwhile, the physical CPO price for May South fell RM20 to RM4,080 per tonne.

-- BERNAMA