The December 2026 CPO contract on Bursa Malaysia fell to RM4,857 per ton for a second straight session, while Indonesia’s KPBN CPO price moved higher to IDR15,721 per kg.
PALMOILMAGAZINE, JAKARTA — Malaysian palm oil futures extended their decline on Monday (Sept. 21, 2026), with the December 2026 contract falling for a second consecutive session as a stronger ringgit, weaker crude oil prices and signs of slower palm oil exports weighed on market sentiment.
The December 2026 CPO contract on the Bursa Malaysia Derivatives Exchange fell RM41 per ton, or 0.84%, to RM4,857 per ton, according to Reuters. The contract declined 0.77% in the previous session.
Also Read: Malaysia CPO Falls 0.77% to RM4,898/Ton Friday (18/9), Global Vegetable Oils Weaken
The decline came amid weaker crude oil prices, which fell to an 11-day low as investors assessed prospects for diplomatic progress over the Iran conflict and the possible resumption of some oil shipments from Saudi Arabia.
A stronger Malaysian ringgit also weighed on palm oil futures. Because Malaysia’s palm oil is priced in ringgit, a stronger local currency can make the commodity relatively more expensive for buyers using the US dollar and other currencies.
Also Read: CPO Prices Forecast to Stay High Through 2027 on El Niño Risk and Biodiesel Demand
Export Signals Add Pressure
Market participants are also monitoring Malaysia’s palm oil export performance for signs of underlying demand.
Estimates from cargo surveyors indicated that Malaysian palm oil product shipments during Sept. 1–20 were down by around 12.8% to 24.7% from the corresponding period in the previous month.
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The weaker shipment estimates added to concerns that export demand has yet to strengthen sufficiently to provide sustained support for CPO futures.
Palm oil also faced pressure from competing vegetable oils.
The most-active soybean oil contract on the Dalian Commodity Exchange fell 0.11%, while the palm oil contract on the same exchange declined 0.92%. On the Chicago Board of Trade, soybean oil futures fell 0.45%.
The simultaneous weakness across vegetable oil and energy markets added to the bearish tone surrounding palm oil futures.
Also Read: KPBN CPO Price Rises to IDR 15,721/kg on Sept. 21 as Malaysia Futures Fall
Indonesia CPO Price Moves Higher
Indonesia’s domestic CPO market moved in the opposite direction.
The CPO price set by PT Kharisma Pemasaran Bersama Nusantara (KPBN) on Monday rose to IDR15,721 per kg, up IDR13 per kg, or 0.08%, from IDR15,708 per kg on Friday (Sept. 18).
Also Read: Indonesia Raises September CPO Reference Price 1.10% to US$1,007.51/MT
The contrasting movements between the KPBN price and Malaysian futures highlight differences between Indonesia’s domestic pricing dynamics and the international futures market over the short term.
Domestic supply and demand conditions, currency movements, trading mechanisms and local price-setting arrangements can all influence Indonesia’s CPO prices independently of movements in Bursa Malaysia.
For global palm oil markets, traders are likely to continue monitoring Malaysian export data, crude oil prices, the ringgit and competing vegetable oil markets for further direction in the coming sessions. (P3)
