PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices traded through PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom moved higher on Wednesday (28 January 2026), tracking gains in the Malaysian palm oil market amid stronger global vegetable oil and energy prices.
Based on data obtained by Palmoilmagazine.com, KPBN set the CPO price at IDR 15,288 per kg, up IDR 180 per kg or 1.19% from Tuesday’s level of IDR 15,108 per kg.
In the physical tender, Franco Dumai CPO was fixed at IDR 15,288 per kg (EUP). Meanwhile, FOB Talang Duku opened at IDR 15,088 per kg, but the session ended in a withdraw (WD), with the highest bid recorded at IDR 15,058 per kg from PT Iscolin.
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On the global front, Bernama reported that Malaysian palm oil futures closed higher on Wednesday, supported by a rally in global soybean oil prices and positive sentiment from rising crude oil values.
David Ng, a proprietary trader at Iceberg X Sdn Bhd, said movements in the crude oil market continued to provide support for palm oil prices.
“We see CPO finding support above RM4,180 per tonne, with resistance around RM4,300 per tonne,” he said.
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However, the palm oil market has started to adopt a more cautious tone after recording sharp gains since last week. Sathia Varqa, Senior Analyst at Fastmarkets Palm Oil Analytics, noted that profit-taking activity began to emerge late last week.
“In addition, the continued strengthening of the ringgit has limited the upside potential,” she added.
At the close, the February 2026 contract rose RM16 to RM4,198 per tonne, while March 2026 gained RM13 to RM4,256 per tonne and April 2026 added RM12 to RM4,272 per tonne.
The May 2026 contract advanced RM14 to RM4,266 per tonne, June 2026 increased RM16 to RM4,248 per tonne, and July 2026 climbed RM12 to RM4,223 per tonne.
Trading activity, however, slowed markedly, with volume dropping to 73,426 lots from 120,825 lots previously. Open interest also edged lower to 216,758 contracts from 218,306 contracts.
In the physical market, southern Malaysian CPO for February delivery rose RM10 to RM4,210 per tonne, indicating that physical demand remains relatively resilient despite emerging caution in the futures market. (P2)
