CPO Prices Recover from Slump, While Malaysian Exports Remain Weak
Crude palm oil (CPO) prices rose during trading on Friday (11/09/2026), following three consecutive sessions of decline.
According to Refinitiv data on Friday at 09:00 WIB, CPO prices were recorded at MYR 4,939 per tonne, an increase of approximately 1.11% compared to Thursday’s closing price of MYR 4,885 per tonne. This morning’s rise provides relief after CPO fell significantly yesterday. The November delivery CPO benchmark contract on the Bursa Malaysia Derivatives Exchange closed 81 ringgit, or 1.63%, lower on Thursday, extending a three-session decline.
As reported by Reuters, Friday’s CPO rebound was supported by the strengthening of Dalian soybean oil and rising crude oil prices. The most active soybean oil contract in Dalian rose by 0.53%. Simultaneously, the Malaysian ringgit weakened by 0.3% against the US dollar, making CPO relatively cheaper for buyers using foreign currencies.
Global oil prices continued their surge on Friday trading as tensions in the Middle East heightened concerns over supply disruptions. By 09:00 WIB on Friday, Brent crude was recorded at US$107.90 per barrel, according to Refinitiv data. On the previous day, Thursday (10/09/2026), Brent closed at US$107.63 per barrel, jumping approximately 6.3% from Wednesday’s (09/09/2026) close of US$101.21 per barrel. This rise in crude oil prices tends to act as a positive sentiment for CPO, as it makes palm oil more competitive as a feedstock for biodiesel.
Comparing CPO and Brent prices in US$ per tonne, the price gap narrowed from approximately US$514 per tonne on 3 September to US$421 per tonne on 11 September. This narrowing indicates that the relative competitiveness of CPO as a biodiesel feedstock improves when crude oil prices surge.
Despite the support from rising crude oil prices, export demand remains a pressure point for CPO. Reuters noted that Malaysian palm oil product exports between 1–10 September fell by 11.7% to 17.5% compared to the same period in the previous month. Intertek Testing Services (ITS) recorded exports dropping 11.7% to 393,295 tonnes, down from 445,466 tonnes during 1–10 August.
This decline in exports adds pressure amidst Malaysian palm oil inventories, which reached an eight-month high in August. The combination of weakening exports and high stocks continues to limit the upside for CPO, despite the support from crude oil and soybean oil prices.
From a technical perspective, Reuters technical analyst Wang Tao estimates that CPO has the potential to rebound to the MYR 4,964–MYR 4,985 per tonne range after prices stabilised around the MYR 4,876 per tonne support level.