PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices offered through PT Karisma Pemasaran Bersama Nusantara (KPBN) were recorded as withdrawn (WD) on Thursday (April 16, 2026), with the highest bid reaching Rp 15,167 per kilogram. This marked a decline of Rp 55 per kilogram, or about 0.36%, compared to Wednesday’s (April 15) highest bid of Rp 15,222 per kilogram.
Market data indicated that the CPO Franco Dumai opening price stood at Rp 15,280 per kilogram, before being withdrawn at a top bid of Rp 15,167 per kilogram. Meanwhile, the FOB Talang Duku price was set at Rp 15,080 per kilogram.
On the global front, CPO prices on Bursa Malaysia Derivatives moved sideways during Thursday’s trading session, pressured by weak demand from key importing countries and expectations of rising global production.
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According to Reuters, the benchmark July 2026 CPO futures contract slipped slightly by RM2 per ton, or around 0.04%, to RM4,495 per ton.
Further pressure came from export performance. Cargo survey data showed that Malaysia’s palm oil product exports for the April 1–15 period fell sharply by between 34.2% and 34.7% compared to the previous month, signaling subdued global demand.
In the currency market, the Malaysian ringgit weakened marginally by 0.05% against the U.S. dollar on the day, although it still posted a weekly gain of about 0.20%. The currency movement also influenced the competitiveness of CPO prices in global trade.
Meanwhile, global crude oil prices rebounded after earlier losses, driven by uncertainty surrounding ongoing peace talks between United States and Iran, which could affect global energy supply.
Stronger crude oil prices provided support to CPO, as the commodity remains a key feedstock for biodiesel, becoming more attractive when fossil fuel prices rise.
Across other vegetable oil markets, prices showed positive momentum. The most active soyoil contract on the Dalian exchange rose 0.57%, while palm oil futures gained 0.32%. Meanwhile, soyoil prices on the Chicago Board of Trade increased by 0.82%.
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Overall, a combination of weak demand, declining exports, and external market influences kept CPO prices range-bound, with market participants awaiting clearer signals from both supply and demand fundamentals. (P3)
