PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) prices in Malaysia continued to advance on Monday, reflecting positive sentiment across the global vegetable oils market. The market was buoyed by rising prices of rival oils, favorable currency movements, and robust export demand.
According to Reuters, the benchmark September 2026 CPO contract on the Bursa Malaysia Derivatives Exchange rose RM8 per metric ton, or approximately 0.17%, to RM4,654 per ton during the midday trading session on Monday. The increase marked the second consecutive day of gains for Malaysian palm oil futures.
Earlier in the session, the contract touched RM4,692 per ton, its highest level since May 6, 2026, before easing slightly ahead of the afternoon session.
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The upward momentum in Malaysian palm oil was also supported by gains in other vegetable oils. On the Chicago Board of Trade (CBOT), soybean oil futures climbed 0.72%. Meanwhile, the most active palm oil contract on China’s Dalian Commodity Exchange rose 0.53%, while soybean oil futures on the same exchange edged up 0.01%.
Market participants noted that palm oil prices remain closely linked to developments in the broader vegetable oils market, as palm oil competes directly with soybean oil and other edible oils in meeting global demand.
In Indonesia, prices offered through PT Kharisma Pemasaran Bersama Nusantara (KPBN) also reflected the stronger market sentiment. During trading on Monday, the CPO tender ended in a withdrawal, with the highest offer reaching IDR15,415 per kilogram.
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The offer price increased by IDR57 per kilogram, or around 0.37%, compared with the previous trading session on Friday, when the highest bid stood at IDR15,358 per kilogram. The improvement in KPBN prices indicates that domestic market sentiment remains supportive amid stronger demand prospects and improving export expectations.
Additional support came from export data in Malaysia. Independent cargo surveyor Intertek Testing Services (ITS) reported that Malaysian palm oil product exports during June 1–20 reached 907,067 metric tons, representing a 19.1% increase compared with the same period in the previous month.
The stronger export performance has reinforced market expectations that global demand for palm oil remains resilient, providing further support to prices in the near term.
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Analysts believe palm oil prices may continue to trade at elevated levels if competing vegetable oils maintain their upward momentum and import demand from key consuming countries remains steady through the end of June. (P3)
