Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday, driven by higher palm olein prices on the Dalian Commodity Exchange, said palm oil trader David Ng. He noted that the increase in closing prices is also attributed to expectations of seasonally weaker output in the coming week.

According to BERNAMA News Agency, prices were seen supported at RM4,500 per tonne, with resistance identified at RM4,600 per tonne. The March 2025 contract saw a rise of RM42, closing at RM4,742 per tonne. Meanwhile, the April 2025 contract increased by RM40 to RM4,632 per tonne, and the May 2025 contract climbed RM43, settling at RM4,542 per tonne.

June 2025 futures rose by RM45 to RM4,449 per tonne, while July 2025 and August 2025 both gained RM44, ending at RM4,365 per tonne and RM4,304 per tonne, respectively. Despite the positive movement in futures prices, trading volume decreased to 77,429 lots from 107,707 lots last Friday. However, open interest expanded to 232,195 contracts from 230,867 previously.

The physical CPO price for February South saw an increase of RM50, reaching RM4,850 per tonne.