Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Monday, bolstered by gains in soybean oil and crude oil prices, amidst renewed tensions in West Asia, as reported by a trader.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng noted that expectations of improved export demand further enhanced market sentiment. "We see prices supported above RM4,500 per tonne and resistance at RM4,650 per tonne," he stated.

Mumbai-based Sunvin Group commodity research head, Anilkumar Bagani, mentioned that discussions of a potentially strong El-Nino are gaining momentum, contributing to the rise in palm oil prices. "The market is now waiting for July 1-15 palm oil export data from Intertek Testing Services (ITS) and AmSpec Agri Malaysia (AmSpec), and the production outlook report from Southern Peninsula Palm Oil Millers' Association, UOB Kay Hian, and Malaysian Palm Oil Association," he added.

At the market close, the spot-month August 2026 contract increased by RM39 to RM4,568 per tonne. The September 2026 contract rose by RM43 to RM4,608 per tonne, and the October 2026 contract jumped by RM46 to RM4,643. The November 2026 contract improved by RM43 to RM4,673 per tonne, December 2026 added RM42 to RM4,705, and January 2027 gained RM38 to RM4,735.

The trading volume saw a decline to 57,818 lots from 64,100 lots last Friday, while open interest slightly decreased to 286,708 contracts from 286,716 contracts previously. The physical CPO price for August South increased by RM40 to RM4,580 per tonne.