By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Oct 28 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower today, weighed down by concerns over elevated Malaysian inventories and expectations of strong October production.
Iceberg X Sdn Bhd proprietary trader David Ng said the weaker market sentiment persisted despite firmer crude oil prices, which offered limited support to the palm oil market.
“We see immediate support around RM4,650 per tonne, while resistance is expected at RM4,800, with market direction remaining sensitive to inventory levels and export demand,” he told Bernama.
At the close, the November 2026 contract fell RM8 to RM4,454 per tonne, the December 2026 contract slipped RM19 to RM4,591 and January 2027 edged down RM16 to RM4,685.
The February 2027 contract shed RM18 to RM4,777 per tonne, March 2027 eased RM24 to RM4,855, and April 2027 went down RM27 to RM4,910.
Trading volume declined to 66,192 lots from 101,228 on Tuesday, while open interest weakened to 338,941 contracts from 342,815 previously.
The physical CPO price for November South slid RM10 to RM4,480 per tonne.
-- BERNAMA