PALMOILMAGAZINE, JAKARTA – Global crude palm oil (CPO) prices came under renewed pressure on Wednesday (March 25, 2026), reflecting softer sentiment in the vegetable oils market. According to Bernama, CPO futures on Bursa Malaysia Derivatives closed lower, weighed down by declining soybean oil prices in the global market.
Market participants noted that soybean oil continues to be a key driver of CPO price direction. As both commodities compete closely within the global vegetable oil complex, any downturn in soybean oil tends to exert immediate downward pressure on palm oil prices.
At the close, the April 2026 contract fell by RM77 to RM4,503 per ton, while May 2026 dropped by the same margin to RM4,542 per ton. June 2026 contracts declined RM74 to RM4,537 per ton.
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Losses extended into the forward curve, with July 2026 easing RM68 to RM4,512 per ton, August 2026 slipping RM60 to RM4,482 per ton, and September 2026 falling RM53 to RM4,451 per ton.
Trading activity also weakened significantly, with volume dropping to 65,523 lots from 136,763 lots in the previous session. Open interest declined to 233,457 contracts from 237,306 contracts, indicating a cautious “wait-and-see” approach among market players.
In the physical market, April CPO prices also fell by RM60 to RM4,540 per ton.
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The global downturn has spilled over into Indonesia’s domestic market. CPO tenders conducted by PT Kharisma Pemasaran Bersama Nusantara (KPBN) ended in withdrawal (WD), with the highest bid reaching only IDR 15,373/kg. This marks a decline of IDR 452/kg, or around 2.86%, compared to the previous level of IDR 15,825/kg.
The overall market tone remains weak, as industry players hold back from transactions amid uncertainty over global price direction. Moving forward, CPO prices are expected to remain closely tied to competing vegetable oil trends and shifts in global demand. (P3)
