Kuala lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Tuesday, driven by stronger soybean oil prices, according to palm oil trader David Ng. Despite this upward movement, Ng highlighted that expectations of increasing production and subdued demand are curbing additional price increases.

According to BERNAMA News Agency, Ng commented on the price support and resistance levels, noting, “We see CPO prices supported above RM4,250 and resistance at RM4,400 a tonne.” At the close of the trading session, the spot-month August contract experienced a gain of RM38, reaching RM4,188 per tonne. Meanwhile, the September 2025 contract rose by RM8 to RM4,231 per tonne, and the October 2025 contract increased by RM12 to RM4,254 per tonne.

The November 2025 contract saw an increment of RM16 to RM4,269 per tonne, whereas the December 2025 contract climbed RM19 to RM4,279 per tonne. January 2026 followed suit, adding RM21 to reach RM4,284 per tonne. The trading volume saw a notable increase, jumping to 61,890 lots compared to 48,430 lots on Monday. In contrast, open interest slightly decreased to 224,301 contracts from the previous 226,093 contracts.

The physical CPO price for July South also experienced a rise, increasing by RM10 to RM4,210 per tonne.