PALMOILMAGAZINE, KUALA LUMPUR — Crude palm oil (CPO) futures on the Bursa Malaysia Derivatives Exchange weakened on Friday (January 23, 2026), pressured by profit-taking activity and a firmer ringgit, which reduced export competitiveness. Despite the pullback, the market remained on course to secure its third consecutive weekly gain, underlining resilient bullish sentiment.
According to Reuters, the benchmark April 2026 palm oil contract slipped RM30 per ton, or 0.71%, to RM4,167 per ton during the midday session. Even with Friday’s decline, prices were still up around 2.6% for the week, supported by expectations of steady demand and tightening regional supply.
Market participants said the retreat largely reflected short-term technical corrections after recent rallies, rather than a shift in broader fundamentals. The strengthening of the Malaysian ringgit also weighed on prices, as a firmer currency tends to make palm oil more expensive for overseas buyers.
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Movements across the broader vegetable oil complex were mixed and relatively narrow. On the Dalian Commodity Exchange, the most-active soyoil contract edged up 0.07%, while palm oil futures dipped 0.04%, signaling a cautious stance among traders. In the United States, soyoil prices on the Chicago Board of Trade (CBOT) fell 0.07%, offering little external support.
Overall, analysts noted that while near-term volatility may persist due to currency fluctuations and profit-taking, palm oil remains in a constructive trend, underpinned by improving demand prospects and tighter production expectations in key producing countries. (P3)
