Palm Oil Hovers Near MYR 4,500 as Bearish Factors Weigh

2026-11-04 04:05 By Farida Husna 1 min. read

Malaysian palm oil futures remained under strain, trading around MYR 4,500 per tonne and touching an over one-month low.

Sentiment weakened amid losses in Dalian and Chicago edible oil markets and concerns over ample supplies, with stocks hitting a record high in September and expected to top 3 million tonnes by year-end amid peak seasonal production.

Competitive pressure also mounted after Indonesia cut its November CPO reference price by 6.07% to USD978.90 per tonne and lowered its export levy, making Malaysian palm oil less competitive.

Meanwhile, easing crude oil prices amid hopes of progress in US-Iran peace talks reduced palm oil's appeal as a biodiesel feedstock.

Caution also prevailed ahead of MPOB's monthly report on November 10.

However, a weaker ringgit and robust demand offered some support, with October shipments jumping 45.4%–73.5% from September.

In India, the largest buyer, palm oil imports stood at a 14-month high in October, boosted by festive demand ahead of Diwali.



News Stream
Palm Oil Heads for Steepest Weekly Loss in Near 2 Years
Malaysian palm oil futures extended their decline, hovering below MYR 4,350 per tonne at their lowest level since March. Prices are poised for their deepest weekly drop in almost two years, pressured by plunging rival edible oil prices and record-high inventories. A sharp weekly drop in crude oil prices also weighed on sentiment, reducing palm oil's appeal as a biodiesel feedstock amid easing concerns over Middle East supply disruptions. Meanwhile, regional competition intensified as top supplier Indonesia cut its Nov. crude palm oil reference price by over 6% and lowered its export levy, making its supplies more competitive. Uncertainty over potential changes to Malaysia's CPO export tax further dampened sentiment. Still, the downside was partly cushioned by solid exports, with Oct. shipments surging 45.4%–73.5% from Sept. Palm oil imports by key buyer India also climbed to a 14-month high ahead of Diwali. Traders now await the Malaysian Palm Oil Board's monthly report, due Nov. 10.
2026-11-06
Palm Oil Hits Lowest Since June Amid Mounting Pressure
Malaysian palm oil futures extended their decline, remaining below MYR 4,500 per tonne and notching their lowest level since June. A stronger ringgit and weakness in Dalian and Chicago edible oils rattled sentiment, alongside expectations that October stockpiles reached a fresh record after September’s peak. Lower crude oil prices also weighed on demand prospects, as a Democratic sweep in the US midterms fuelled expectations of greater pressure on President Trump to seek a resolution to the Iran conflict, reducing palm oil’s appeal as a biodiesel feedstock. Competitive pressure increased after Indonesia cut its November CPO reference price by 6.07% to USD 978.90 per tonne and lowered its export levy, boosting the attractiveness of its supplies. Still, losses were partly capped by solid demand, with October exports surging 45.4%-73.5% from September. Meanwhile, palm oil imports in top buyer India climbed to a 14-month high ahead of Diwali.
2026-11-05
Palm Oil Hovers Near MYR 4,500 as Bearish Factors Weigh
Malaysian palm oil futures remained under strain, trading around MYR 4,500 per tonne and touching an over one-month low. Sentiment weakened amid losses in Dalian and Chicago edible oil markets and concerns over ample supplies, with stocks hitting a record high in September and expected to top 3 million tonnes by year-end amid peak seasonal production. Competitive pressure also mounted after Indonesia cut its November CPO reference price by 6.07% to USD978.90 per tonne and lowered its export levy, making Malaysian palm oil less competitive. Meanwhile, easing crude oil prices amid hopes of progress in US-Iran peace talks reduced palm oil's appeal as a biodiesel feedstock. Caution also prevailed ahead of MPOB's monthly report on November 10. However, a weaker ringgit and robust demand offered some support, with October shipments jumping 45.4%–73.5% from September. In India, the largest buyer, palm oil imports stood at a 14-month high in October, boosted by festive demand ahead of Diwali.
2026-11-04