PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices on the Bursa Malaysia Derivatives closed higher on Friday (April 24, 2026), posting their first weekly gain in three weeks as external market conditions turned more supportive.
According to Reuters, the benchmark CPO futures contract for July 2026 delivery rose by RM16 per ton, or approximately 0.35%, to close at US$1,159.77 per ton. On a weekly basis, the contract gained 3.28%, reflecting improving market sentiment.
From a forward-looking perspective, the Malaysian Palm Oil Council (MPOC) expects CPO prices to remain above RM4,500 per ton in the near term. The outlook is supported by stronger biodiesel economics, elevated global crude oil prices, and potential supply risks linked to the El Niño weather pattern.
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In Indonesia, CPO prices set by PT Kharisma Pemasaran Bersama Nusantara (KPBN) were recorded at Rp15.500/kg on Friday, up Rp12/kg or around 0.08% compared to Rp15.488/kg in the previous session.
Meanwhile, movements in other vegetable oil markets were mixed. On China’s Dalian exchange, the most active soybean oil contract declined by 1.04%, while palm oil futures slipped 0.37%. In contrast, soybean oil prices on the Chicago Board of Trade edged up by 0.53%.
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The combination of firmer external factors and improving demand prospects continues to provide positive momentum for CPO prices. However, ongoing volatility in global markets and competition from other vegetable oils remain key risks to watch going forward. (P3)
