Kuala lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Thursday, supported by expectations of strong demand for palm oil ahead of the festive season next month.

According to BERNAMA News Agency, palm oil dealer David Ng noted that India, which typically increases purchases ahead of the Deepavali season, has begun restocking earlier this year in preparation for the upcoming festival. "We see support at RM4,400 a tonne and resistance at RM4,580," he explained.

At the conclusion of trading, the spot month September 2025 contract, as well as the October 2025 contract, increased by RM43 to RM4,383 and RM4,415 per tonne, respectively. Additionally, the November 2025 note rose by RM41 to RM4,454. The December 2025 contract saw an improvement of RM35 to RM4,481 per tonne, January 2026 increased by RM31 to RM4,494, and February 2026 added RM25 to RM4,484.

The trading volume decreased to 64,358 lots from 87,050 on Wednesday, while open interest expanded to 256,725 contracts from 254,559 previously. The physical CPO price for September South rose by RM60 to RM4,450 per tonne.