PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) futures on the Bursa Malaysia Derivatives Exchange closed higher on Monday (12/5/2026), ending a three-day losing streak amid improving sentiment in the global vegetable oils market.
The benchmark July 2026 CPO futures contract gained RM11 per ton, or approximately 0.24 percent, to settle at RM4,516 per ton at the close of trading.
Market sentiment was supported by stronger soybean oil prices and rising global crude oil prices, which improved expectations for vegetable oil demand.
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In the domestic market, CPO prices at PT Kharisma Pemasaran Bersama Nusantara (KPBN) also moved higher. On Monday (11/5/2026), KPBN set the CPO price at IDR 15,325 per kilogram.
The price increased by IDR 103/kg, or around 0.68 percent, compared to the highest bid recorded on Friday (8/5/2026), which stood at IDR 15,222/kg.
Globally, palm oil prices remain heavily influenced by movements in competing vegetable oils, particularly soybean oil. Both commodities compete closely in the international edible oils market, making shifts in soybean oil prices a key driver for CPO trading direction.
During the same trading session, the most active soybean oil contract on the Dalian exchange rose around 0.55 percent, while palm oil futures on the exchange edged down slightly by 0.11 percent.
Meanwhile, soybean oil futures on the Chicago Board of Trade (CBOT) climbed approximately 0.71 percent, reinforcing bullish sentiment across the global vegetable oils market.
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Market participants are now closely monitoring export demand, global energy price movements, and worldwide vegetable oil supply conditions, which are expected to remain the key factors influencing short-term CPO price trends. (P3)
