CPO Futures End Higher On Worries Over Tighter Supply Due To Weaker Production
19/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Thursday due to worries over weaker production of the commodity that might affect its supply, said a trader.
"We see support at RM3,800 and resistance at RM3,950," palm oil trader David Ng told Bernama.
At the close, the spot month October 2024
contract was RM31 higher at RM3,948, November 2024 gained RM33 to RM3,904 and the benchmark December 2024 note gained RM31 to RM3,876 per tonne.
The January 2025 contract advanced by RM34 to RM3,855, February 2025 rose RM26 to RM3,833 and March 2025 added RM16 to RM3,810.
The volume increased to 148,413 lots from 82,747 lots on
Wednesday while open interest rose to 262,270 contracts from 251,511 previously.
The physical CPO price for October South added RM20 to RM4,020 per tonne.
-- BERNAMA