PALMOILMAGAZINE, JAKARTA – Malaysian crude palm oil (CPO) futures continued to decline on Wednesday (24/6/2026), marking their second consecutive day of losses as weaker crude oil prices and mixed performances among competing vegetable oils weighed on market sentiment.
According to Reuters, the benchmark September 2026 CPO contract on the Bursa Malaysia Derivatives Exchange fell by RM6 per metric ton, or approximately 0.13%, to RM4,652 per ton during the midday trading break. Throughout the session, prices traded within a relatively narrow range of RM4,646 to RM4,690 per ton.
The decline reflects cautious market sentiment as traders continue to monitor developments in the global vegetable oil market and energy sector. Lower crude oil prices have reduced the attractiveness of vegetable oil-based biofuels, including palm oil, thereby exerting pressure on CPO prices.
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In contrast to the softer international market, Indonesia’s domestic CPO market recorded a notable increase.
The crude palm oil price at PT Kharisma Pemasaran Bersama Nusantara (KPBN) was set at IDR 15,650 per kilogram on Wednesday. The price increased by IDR 335 per kilogram, or approximately 2.19%, compared to the highest bid price of IDR 15,315 per kilogram recorded on Tuesday (23/6/2026).
The increase in domestic prices indicates continued support from local demand despite ongoing pressure in the global market. The divergence between domestic and international prices also highlights relatively strong local market fundamentals.
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Meanwhile, global vegetable oil markets delivered mixed signals. On China’s Dalian Commodity Exchange, the most active soybean oil contract gained 0.36%, while the most active palm oil contract declined 0.45%.
In the United States, soybean oil futures on the Chicago Board of Trade (CBOT) remained largely unchanged, indicating that market participants are still awaiting clearer signals regarding global demand, energy prices, and production prospects among major vegetable oil producers.
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Market participants are expected to continue monitoring crude oil prices, biodiesel policies, and global supply-demand dynamics in the vegetable oil sector, all of which are likely to influence palm oil prices in the coming weeks. (P3)
