Jakarta, CNBC Indonesia \u2013 Crude Palm Oil (CPO) prices eased after\nsurging. Refinitiv quotes CPO prices on Wednesday, 4 March 2026, at\n10:45 WIB, at MYR 4,159 per tonne, down 0.65%. This softening ends a\nthree-day rally that had gained 4.5% over that period.<\/p>\n
On the global commodities market, other vegetable oils rose.<\/p>\n
Crude palm prices usually track moves in other vegetable oils because\nthese commodities compete in the global edible oil market, particularly\nwith soybean oil and sunflower oil.<\/p>\n
India\u2019s imports surged, Malaysia\u2019s exports pressured<\/p>\n
On the demand side, India\u2019s palm oil imports in February rose 10.1%\nfrom January, marking the highest level in six months. The jump was\ndriven by discounts on palm oil that outweighed competing vegetable\noils. Meanwhile, imports of sunflower oil were also under pressure.<\/p>\n
Yet amid positive sentiment from India, Malaysia\u2019s export data fell.\nAccording to reports from Intertek Testing Services and AmSpec Agri\nMalaysia, Malaysia\u2019s palm oil product exports in February were down\nbetween 21.5% and 25.5%.<\/p>\n
Meanwhile, Indonesia, the world\u2019s largest palm oil producer, posted\nsolid export performance. Exports of crude and processed palm oil in\nJanuary reached 2.24 million tonnes, up 77.07% year-on-year, with\nshipments valued at US$2.29 billion.<\/p>\n
Palm oil supported by oil price rally<\/p>\n
Additional support for CPO prices comes from the energy market.\nGlobal crude oil prices rose for the third consecutive day as\ngeopolitical tensions between the United States, Israel, and Iran\nescalated, and threats to shipping routes in the Strait of Hormuz. This\nraised concerns about supply disruption from the main Middle East\nproducing region.<\/p>\n
Rising crude prices typically make palm oil more attractive as a\nbiodiesel feedstock, as it becomes more economically competitive\nrelative to other feedstocks. This could boost additional demand from\nthe energy sector.<\/p>\n
On the technical side, Reuters analyst Wang Tao said CPO contracts\ncould test the 4,121 ringgit per tonne support level. If this level is\nbreached, prices could drop more deeply to the range of 4,078 to 4,098\nringgit per tonne.<\/p>\n
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