CPO FUTURES END HIGHER ON STRONGER SOYBEAN, CRUDE OIL PRICES
WORLD
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, April 22 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher today on stronger soybean oil and crude oil prices, said palm oil trader David Ng.
According to reports, soybean futures rose on signs of strong demand for United States (US) crops, as a weaker US dollar makes exports more competitive.
'We see support at RM3,900 per tonne and resistance at RM4,100 per tonne,' Ng told Bernama.
Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said Malaysia's palm oil export performance for April has been promising, while production is also recovering, albeit at a slower pace than expected.
Additionally, the recovery in energy and soybean oil prices, as well as improved demand from India, have helped palm oil's performance.
'However, stronger Malaysian ringgit and the global economic uncertainty continued to cap gains,' he said.
In a statement today, the Malaysian Palm Oil Council (MPOC) said palm oil prices are expected to remain supported at RM3,900 per tonne in the coming weeks, underpinned by the recovery in soybean oil prices.
The MPOC noted that Malaysian palm oil stocks increased in March 2025 after six consecutive months of decline, rising to 1.56 million tonnes.
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