PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices in Indonesia’s domestic market strengthened on Wednesday (29/4/2026), with PT Kharisma Pemasaran Bersama Nusantara (KPBN) setting the benchmark price at IDR 15,220/kg. The figure marked an increase of IDR 98/kg, or around 0.66%, compared with the highest bid price recorded a day earlier at IDR 15,122/kg.
Based on data obtained from KPBN, the Franco Dumai CPO price was set at IDR 15,220/kg, while FOB Talang Duku stood at IDR 15,020/kg. Meanwhile, CPO Loco Parindu opened at IDR 14,870/kg, but the transaction was withdrawn, with the highest offer reaching IDR 14,695/kg.
Globally, crude palm oil trading on the Bursa Malaysia Derivatives Exchange remained limited as conflicting market sentiments kept traders cautious. Rising crude oil prices provided support to palm oil, but gains were capped by the strengthening Malaysian ringgit.
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According to Reuters, the benchmark July 2026 CPO contract on Bursa Malaysia slipped RM2 per ton, or around 0.04%, to RM4,534 per ton during the midday break. The relatively flat movement reflected a wait-and-see stance among market participants as they monitored mixed external developments.
In competing vegetable oil markets, the most active soyoil contract on the Dalian Commodity Exchange rose 0.25%, while palm oil futures on the same exchange declined 0.21%. The trend indicates that the global vegetable oil market remains mixed as traders assess demand prospects, supply fundamentals, and developments in the energy sector.
Palm oil prices are highly sensitive to movements in rival vegetable oils, particularly soybean oil, as both commodities compete for market share in food products and biofuel feedstock.
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On the currency front, the Malaysian ringgit strengthened 0.03% against the US dollar, making Malaysian palm oil relatively more expensive for foreign buyers. Exchange rate movements remain a key factor as they directly influence export competitiveness.
Additional pressure came from export performance. Cargo surveyor data showed Malaysia’s palm product exports during 1–25 April 2026 were estimated to have fallen between 15.7% and 16.8% compared with the same period in the previous month.
The decline signals that global demand remains under pressure, particularly among major importing countries facing continued commodity price volatility and elevated logistics costs.
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Market participants are now awaiting end-April production figures and updated export data for clearer direction on near-term CPO price movements. (P3)
