PALMOILMAGAZINE, JAKARTA – Crude Palm Oil (CPO) prices extended their decline on Wednesday (July 23, 2026), with losses seen in both the Bursa Malaysia Derivatives (BMD) market and Indonesia’s PT Kharisma Pemasaran Bersama Nusantara (KPBN) tender, as weaker competing vegetable oil prices continued to pressure the market.
At the opening session, the benchmark October 2026 CPO futures contract on Bursa Malaysia fell RM6 per tonne, or approximately 0.13%, to RM4,604 per tonne, marking a second consecutive day of losses.
Market sentiment was dampened by declines across major vegetable oil markets. On the Dalian Commodity Exchange (DCE), the most-active soybean oil contract fell 1.1%, while palm oil futures declined 0.51%. Meanwhile, soybean oil futures on the Chicago Board of Trade (CBOT) eased 0.47%, reducing palm oil’s competitiveness in the global edible oils market.
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The weakness was also reflected in Indonesia’s domestic market. According to data obtained by Palmoilmagazine.com, the highest CPO offer in the PT Kharisma Pemasaran Bersama Nusantara (KPBN) tender on Wednesday (July 22, 2026) was recorded as withdrawn (WD) at IDR 15,511/kg.
The quoted level was IDR 164/kg, or about 1.05%, lower than the IDR 15,675/kg recorded on Tuesday (July 21, 2026), highlighting continued pressure on domestic palm oil prices.
Despite the recent pullback, the near-term outlook for Malaysian CPO remains relatively stable. The Malaysian Palm Oil Council (MPOC) projects CPO prices to trade within a range of RM4,400–RM4,650 per tonne throughout August 2026, supported by a balanced global supply-and-demand outlook.
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Market participants are now expected to closely monitor production trends in major producing countries, export performance, and movements in rival vegetable oils, which are likely to remain the key drivers of palm oil price direction in the coming weeks. (P3)
