Malaysian palm oil futures climbed to their highest close in more than four months, supported by gains in competing vegetable oils, while rising stocks continued to weigh on the market.
PALMOILMAGAZINE, KUALA LUMPUR — Malaysian crude palm oil (CPO) futures rose on Monday (Aug. 10, 2026), reaching their highest closing level in more than four months as gains in competing vegetable oils in Dalian and Chicago strengthened market sentiment.
According to Reuters, the benchmark October 2026 CPO contract on Bursa Malaysia Derivatives rose RM47 per metric ton, or about 1%, to RM4,724 per ton. The close was the highest since April 7, 2026.
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The rally came amid broader gains across the global vegetable oil market. The most-active soybean oil contract in Dalian rose 0.13%, while palm oil futures on the same exchange gained 0.59%.
Soybean oil futures on the Chicago Board of Trade (CBOT) advanced 1.16%. Strength in competing vegetable oils provided additional support for palm oil prices as the commodities compete for market share in the global edible oils market.
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Malaysia Stocks Remain a Headwind
Despite the positive external market signals, rising palm oil inventories in Malaysia remained a key constraint on prices.
Data from the Malaysian Palm Oil Board (MPOB) showed Malaysia’s palm oil stocks increased 3.32% month-on-month in July 2026 to 2.63 million metric tons.
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The increase in inventories could limit further gains in CPO prices. However, export data provided a more supportive signal for the market.
Independent inspection company AmSpec Agri Malaysia estimated that Malaysian palm oil product exports rose 14.8% during Aug. 1–10, 2026.
Intertek Testing Services, meanwhile, reported export growth of 2.6% over the same period. Although the two agencies provided different estimates, both pointed to continued growth in Malaysian palm oil shipments.
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KPBN CPO Prices Also Rise
The positive trend in Malaysia’s futures market was also reflected in Indonesia’s domestic CPO market.
PT Kharisma Pemasaran Bersama Nusantara (KPBN) set its CPO price at IDR 15,668 per kilogram on Monday (Aug. 10, 2026).
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The price was up IDR 61 per kg, or around 0.39%, from the highest bid of IDR 15,607 per kg recorded on Friday (Aug. 7).
Gains on Bursa Malaysia and stronger vegetable oil prices provided support for the CPO market. Traders, however, are expected to continue monitoring Malaysia’s inventory levels and export performance for further indications of the market’s direction. (P3)
