Bursa Malaysia crude palm oil futures rose across all listed contracts on Friday (Oct. 23), supported by stronger export demand, firmer energy prices and gains in soybean oil, while elevated Malaysian palm oil inventories limited the upside. Indonesia’s KPBN Inacom CPO tender price also climbed IDR 82/kg to IDR 15,200/kg.
PALMOILMAGAZINE, KUALA LUMPUR — Malaysian crude palm oil (CPO) futures extended their gains on Friday (Oct. 23, 2026), with all listed contracts advancing as stronger export demand and gains in competing vegetable oils improved market sentiment.
According Bernama, the November 2026 CPO contract rose RM36 to RM4,587 per metric ton, while the December contract gained RM38 to RM4,733/ton.
Also Read: Malaysia CPO Futures Rise as Palm Oil Exports Gain 4.3% in First Nine Months of 2026
The January 2027 contract increased RM26 to RM4,818/ton, while February advanced RM17 to RM4,902/ton. March gained RM9 to RM4,976/ton, and April edged RM10 higher to RM5,030/ton.
Trading activity also strengthened. Volume increased to 91,028 lots from 78,548 lots on Thursday, while open interest rose to 341,116 contracts from 336,766 contracts previously.
Also Read: KPBN Inacom CPO Price Rises IDR 82 to IDR 15,200/kg on Friday (Oct. 23), Rotterdam CPO Strengthens
Export Demand Supports Sentiment
Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was supported by stronger energy prices and gains in soybean oil futures, although elevated Malaysian palm oil inventories continued to limit the market’s upside.
“However, elevated Malaysian palm oil inventories continued to cap gains,” Ng said.
The Malaysian Palm Oil Council (MPOC) expects India to rely more heavily on palm oil imports in the coming months to meet its vegetable oil requirements, particularly as buyers replenish inventories following the Deepavali celebrations in November.
China could also provide additional support for palm oil demand. According to the MPOC, reduced soybean supplies from Brazil could encourage higher palm oil consumption in the Chinese market.
The combination of stronger export prospects and firmer competing vegetable oils has provided a more supportive backdrop for Malaysian CPO futures. However, high domestic palm oil inventories remain a key constraint on further price gains.
Indonesia’s KPBN CPO Price Also Rises
In Indonesia, CPO tender prices at KPBN Inacom rose IDR 82 per kilogram to IDR 15,200/kg at Franco Dumai on Friday, Oct. 23.
The price increased from the previous session’s highest bid of IDR 15,118/kg on Thursday.
Also Read: Indonesia Sets October 2026 Biodiesel HIP at IDR 15,072/Liter, Excluding Transport Costs
The parallel gains in Malaysian futures and Indonesia’s physical CPO market point to firmer palm oil pricing at the end of the week, although the sustainability of the rally will depend on export demand, inventory levels and movements in competing vegetable oils. (P3)
