PALMOILMAGAZINE, KUALA LUMPUR – Malaysian crude palm oil (CPO) futures strengthened on Wednesday (January 7, 2026), supported by rising global soyoil prices and a weaker ringgit, which improved the export competitiveness of Malaysian palm oil.
According to Reuters, the benchmark March 2026 CPO contract on the Bursa Malaysia Derivatives Exchange rose RM 14 per ton, or about 0.35%, to RM 4,004 per metric ton at midday. The gain reflected continued positive sentiment across the vegetable oil market.
From external markets, the most active soyoil contract on the Dalian Exchange climbed 0.63%, while Dalian palm oil futures advanced 0.26%. In the United States, soyoil prices on the Chicago Board of Trade also moved higher, gaining 0.43%.
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Rising prices of competing vegetable oils remain a key driver for palm oil, as CPO competes directly with soyoil, sunflower oil, and rapeseed oil to supply the global food, oleochemical, and bioenergy industries.
Market analysts said the combination of strengthening global vegetable oil prices and a weaker ringgit could keep CPO prices stable to firm in the near term, although traders continue to monitor global demand conditions and export policy developments in major producing countries. (P3)
