Lang
Crude palm oil futures on Bursa Malaysia Derivatives closed lower on Friday, weighed down by weaker soybean oil futures on the Chicago Mercantile Exchange and softer Malaysian palm oil export performance, according to an analyst.
Anilkumar Bagani, head of commodity research at Mumbai-based Sunvin Group, said in a report that cargo surveyor Intertek Testing Services (ITS) estimated Malaysian palm oil exports fell 14.2% to 629,687 tonnes in the 1-20 March period, compared with the same period in February.
He added that inspection company Societe Generale de Surveillance had estimated a 6.62% decline in Malaysian palm oil exports to 552,622 tonnes over the same period.
At the close, the April 2025 contract (the new spot month) fell 18 ringgit to 4,651 ringgit a tonne, while the May 2025 contract dropped 22 ringgit to 4,507 ringgit. The June 2025, August 2025 and September 2025 contracts each declined 38 ringgit, to 4,375, 5,896 and 4,125 ringgit a tonne respectively.
Meanwhile, the July 2025 contract fell 39 ringgit to 4,260 ringgit a tonne.
Trading volume fell to 76,908 lots from 111,206 lots at Thursday's close, while open interest declined to 256,932 contracts from 260,294 previously.
The March physical price for crude palm oil (South Malaysia) fell 40 ringgit to 4,780 ringgit a tonne.
Source: Bernama