PALMOILMAGAZINE, JAKARTA – Global crude palm oil (CPO) prices continued their upward trend at the start of the week, supported by a combination of external market strength and solid fundamentals. According to Reuters, CPO futures on the Bursa Malaysia Derivatives Exchange recorded gains for a third consecutive session on Monday (March 30, 2026).
The benchmark June 2026 contract rose by 36 ringgit, or approximately 0.78%, to 4,667 ringgit per ton during the midday trading break, reflecting a broader positive trend across the global vegetable oils market.
The rally was primarily driven by higher soybean oil (soyoil) prices on the Chicago Board of Trade, alongside firmer global crude oil prices. During the Asian trading session, CPO moved in tandem with these substitute commodities, reinforcing bullish market sentiment.
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On the fundamental side, export performance has emerged as a key supporting factor. Cargo surveyors estimated that Malaysia’s palm oil product exports for the March 1–25 period surged significantly, increasing between 38.4% and 50.6% month-on-month. Meanwhile, full-month export data for March is scheduled for release on Tuesday, which could provide further direction for the market.
In Indonesia’s domestic market, a similar upward trend was observed. CPO prices set by PT Kharisma Pemasaran Bersama Nusantara (KPBN) on Monday (March 30, 2026) reached IDR 15,850/kg, up by IDR 138/kg or around 0.88% compared to the previous level of IDR 15,712/kg.
Elsewhere in the vegetable oils market, movements were mixed. On the Dalian exchange, the most active soybean oil contract fell by 0.42%, while palm oil futures rose by 0.64%. Meanwhile, soyoil prices in Chicago gained around 0.92%, further strengthening positive sentiment in the global CPO market.
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With a combination of supportive external drivers and solid fundamentals, CPO prices are expected to remain stable with an upward bias in the near term. However, market participants will continue to monitor upcoming export data and global energy price movements as key indicators for future direction. (P3)
