CPO Futures End Lower On Profit-Taking
By K. Naveen Prabu
KUALA LUMPUR, July 15 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today on profit-taking by traders.
Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said traders locked in profits following Monday's rally, which had lifted prices to a three-month high.
He added that the stronger ringgit also pressured the market.
'The ringgit strengthened sharply against the United States (US) dollar, making ringgit-denominated CPO more expensive for international buyers,' he told Bernama.
Meanwhile, palm oil trader David Ng said expectations of slower export performance weighed on prices.
'CPO plunged below RM4,200 per tonne as concerns over export weakness in the coming weeks weigh on market sentiment.
'We see price support at RM4,100 per tonne and resistance at RM4,300,' he said.
At the close, the spot-month July contract remained unchanged at RM4,109 per tonne, August 2025 declined by RM77 to RM4,106 per tonne, and September 2025 fell RM84 to RM4,146 per tonne.
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