Malaysian CPO futures declined on Wednesday (Oct. 21) as weaker soybean oil prices and concerns over high palm oil inventories weighed on market sentiment, while Indonesia’s KPBN Inacom tender price also edged lower.
PALMOILMAGAZINE, KUALA LUMPUR — Malaysian crude palm oil (CPO) futures closed lower on Wednesday (Oct. 21), pressured by weaker soybean oil prices and concerns over elevated palm oil inventories, while expectations of record Malaysian production in October added to the bearish sentiment.
The decline came despite support from energy markets, with traders continuing to monitor movements in competing vegetable oils and crude oil prices for signals on the direction of palm oil futures.
Also Read: Malaysia CPO Futures Surge, November Contract Jumps RM80 to RM4,595 per Ton
According to Bernama, the November 2026 CPO futures contract fell RM73 to RM4,522 per tonne at the close. The December 2026 contract declined RM70 to RM4,662 per tonne, while January 2027 slipped RM50 to RM4,767 per tonne.
Further along the forward curve, the February 2027 contract dropped RM30 to RM4,868 per tonne. The March 2027 contract eased RM1 to RM4,957 per tonne, while April 2027 declined RM3 to RM5,014 per tonne.
Trading volume fell to 119,654 lots from 142,270 lots on Tuesday, while open interest increased to 335,340 contracts from 334,160 contracts previously.
Also Read: KPBN Inacom CPO Price Falls to IDR 15,115 kg on Wednesday as Rotterdam Palm Oil Market Gains
Indonesia’s KPBN CPO Price Also Edges Lower
Indonesia’s CPO market also moved lower on Wednesday, with the highest price recorded at the PT Kharisma Pemasaran Bersama Nusantara (KPBN) Inacom tender falling to IDR 15,115/kg, from IDR 15,158/kg a day earlier.
The price declined by IDR 43/kg, or 0.28%, indicating softer domestic tender prices despite movements in international palm oil markets.
Also Read: GAPKI IPOC 2026 to Shape Indonesia’s Palm Oil Strategy Amid Global Trade and Geopolitical Risks
The simultaneous weakness in Malaysian futures and the KPBN Inacom tender underscores the cautious tone across the regional palm oil market, as traders weigh supply prospects, inventory levels and developments in competing vegetable oils. (P3)
