PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) futures on the Bursa Malaysia Derivatives Exchange closed higher on Monday (March 9, 2026), breaking above the RM4,500 per ton level—its highest point since October last year. The rally was largely supported by a surge in global energy markets and rising geopolitical tensions in the Middle East.
Reported by Bernama, the increase in CPO prices followed a sharp rise in global energy prices, which boosted positive sentiment across commodity markets, including vegetable oils. The situation encouraged traders to return to the palm oil futures market with renewed buying activity.
Senior analyst at Fastmarkets Palm Oil Analytics, Sathia Varqa, noted that the current price movement demonstrates the resilience of the CPO market. According to him, strong support from the global crude oil rally has helped strengthen sentiment toward energy-related commodities, including palm oil-based biodiesel.
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He added that the Chicago Mercantile Exchange (CME) Fastmarkets South Asia CPO benchmark has climbed about 9% since Friday through mid-session trading on Monday. The surge reflects increasing market interest in palm oil contracts amid ongoing uncertainty in global energy markets.
Market participants are also awaiting the release of Malaysia’s palm oil supply and demand data by the Malaysian Palm Oil Board (MPOB) for February, scheduled to be announced on Tuesday. The data is expected to provide key signals for the short-term direction of palm oil prices.
Across the futures market, most CPO contracts posted significant gains at the close of trading. The March 2026 contract rose RM204 to RM4,454 per ton, while the April 2026 contract also climbed RM204 to RM4,540 per ton.
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The May 2026 contract increased RM200 to RM4,567 per ton, followed by the June 2026 contract which gained RM184 to RM4,559 per ton. Meanwhile, the July 2026 contract rose RM170 to RM4,535 per ton, and the August 2026 contract advanced RM155 to RM4,502 per ton.
Trading activity also picked up notably. Total trading volume reached 220,402 lots, up from 168,359 lots recorded in the previous Friday session. Open interest also expanded to 237,662 contracts from 224,475 contracts earlier, indicating growing market participation in palm oil futures.
In the physical market, the March South CPO price jumped sharply by RM340 to reach RM4,500 per ton.
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Meanwhile, in Indonesia’s domestic market, CPO prices through the tender conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) also moved higher. On Monday (March 9, 2026), the CPO tender ended in withdraw (WD) status, with the highest bid recorded at IDR 15,111 per kilogram.
The price increased by IDR 161 per kilogram, or around 1.08%, compared with the previous tender on Friday (March 6, 2026), which stood at Rp 14,950 per kilogram. The rise reflects the positive sentiment that has also spilled over into the domestic market following the strengthening of global palm oil prices. (P3)
