PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended marginally higher on Tuesday (28/4/2026), as gains were capped by weaker palm oil prices in Dalian and mixed sentiment across the broader vegetable oils market.
According to Reuters, the benchmark July 2026 CPO contract closed up RM3 per ton, or around 0.07 percent, at RM4,537 per metric ton. The modest rebound followed a 1.37 percent decline in the previous trading session.
Market participants said pressure from Asian vegetable oil markets remained significant, particularly after palm oil futures in Dalian weakened during the trading session. This limited the upside potential for Malaysian palm oil despite support from stronger global crude oil prices.
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Higher energy prices typically improve sentiment for palm-based biodiesel demand, but ongoing weakness in competing edible oils continued to weigh on market confidence.
In Indonesia’s domestic market, CPO prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) were recorded as withdrawn (WD), with the highest offer reaching IDR 15,122/kg on Tuesday (28/4/2026).
That represented a decline of IDR 337/kg, or approximately 2.18 percent, compared with Monday’s (27/4/2026) level of IDR 15,459/kg.
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The softer domestic pricing indicated that external market pressure still influenced Indonesia’s palm oil trade, particularly through fluctuations in global benchmark prices and competition among major vegetable oils.
Meanwhile, rival vegetable oils showed mixed performance. The most active soybean oil contract in Dalian rose 0.14 percent, while its palm oil contract slipped 0.59 percent. In the United States, soyoil prices on the Chicago Board of Trade gained 0.17 percent.
Fundamentally, the global palm oil market remains highly sensitive to movements in competing vegetable oils, especially soybean oil, as both commodities continue to compete for demand in the food, energy, and oleochemical sectors.
Analysts said prices may remain range-bound in the near term unless stronger export demand emerges or supply disruptions occur. Market attention is now shifting toward April export data and production trends in key Southeast Asian producing countries. (P3)
