PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices on the Bursa Malaysia Derivatives Exchange closed higher on Thursday (April 2, 2026), rebounding after earlier weakness. The gains were supported by rising geopolitical tensions in the Middle East and expectations of lower palm oil production in March.
According to Reuters, the benchmark June 2026 CPO contract rose by RM25 per ton, or about 0.52%, to settle at RM4,794 per ton at the close.
Market participants are now closely watching the upcoming release of official March supply and demand data from the Malaysian Palm Oil Board (MPOB), scheduled for April 10. The report is expected to provide clearer direction for short-term price movements.
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In contrast, Indonesia’s domestic market showed a different trend. The CPO tender held by PT Kharisma Pemasaran Bersama Nusantara (KPBN) ended in a withdrawal (WD), with the highest bid recorded at IDR 16,135 per kg. This marked a decline of IDR 90 per kg, or approximately 0.55%, from IDR 16,225 per kg on Wednesday (April 1, 2026).
The withdrawal reflects cautious sentiment among domestic buyers amid ongoing global uncertainties, including fluctuations in competing vegetable oils and an unclear demand outlook.
Meanwhile, global vegetable oil markets showed mixed movements. The most active soybean oil contract on the Dalian exchange fell by 0.48%, while its palm oil contract slipped 0.28%. In contrast, soybean oil prices on the Chicago Board of Trade (CBOT) rose significantly by 1.62%.
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These mixed trends indicate that the global vegetable oil market remains in a consolidation phase, with traders closely monitoring supply-demand fundamentals and geopolitical developments that continue to shape market sentiment.
Given the current conditions, industry players are advised to remain cautious of potential price volatility while awaiting clearer signals from upcoming fundamental data releases. (P3)
