KUALA LUMPUR, Sept 29 -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, dragged by weak sentiment on the overall edible oil market.
Palm oil trader David Ng said the bearish sentiment was also caused by lacklustre export performance due to uncertainties resulting from the impact of the COVID-19 pandemic.

“We locate the support level at RM2,700 and resistance at RM2,850,” he told Bernama today.
According to MIDF Amanah Investment Bank Bhd (MIDF Investment) data, the country's export momentum weakened in August due to declining demand from regional partners, causing total exports to contract 2.9 per cent year-on-year after two straight months of positive growth.
Although combined exports of agriculture goods shrank 4.5 per cent, exports of palm oil and palm oil-based agriculture products saw a marginal growth of 0.4 per cent, according to figures announced by the International Trade and Industry Ministry yesterday.
At the close, October 2020 declined RM44 to RM2,906 per tonne, November 2020 decreased RM32 to RM2,830 per tonne, December 2020 narrowed RM48 at RM2,777 per tonne, and January 2021 slid RM58 to RM2,737 per tonne.
The total volume widened to 70,509 lots from 59,552 lots yesterday, while open interest rose to 258,097 contracts from 249,444.
Meanwhile, the physical CPO price was RM30 lower at RM2,920 per tonne for October South.
-- BERNAMA

https://www.bernama.com/en/market/news.php?id=1884757
Sumber: Bernama