CPO Prices Rise, When Will They Reach US$ 4,900?
Crude Palm Oil (CPO) prices strengthened slightly in Monday’s trading (21/09/2026), even as the market was overshadowed by a decline in Malaysian palm product exports.
According to Refinitiv data at approximately 10:00 WIB, CPO prices were recorded at MYR 4,913 per tonne, an increase of about 0.31% compared to Friday’s (18/09/2026) closing price of MYR 4,898 per tonne.
Despite a correction on Friday (18/09/2026), CPO still recorded weekly gains. Compared to the position of MYR 4,814 per tonne on Friday (11/09/2026), CPO prices rose by approximately 1.75%.
Current CPO prices also remain above the August 2026 average. Throughout that month, the average CPO price was recorded at approximately MYR 4,792.26 per tonne, making this morning’s position about 2.52% higher.
Although moving upwards at the start of trading, demand-side sentiment remains a market concern. Data from cargo surveyor Intertek Testing Services (ITS) shows that Malaysian palm product exports during 1-20 September fell by 12.8% to 714,012 tonnes, compared to 819,141 tonnes during the same period the previous month.
The decline in exports was particularly evident in several key markets. Shipments to the European Union fell to 140,247 tonnes from 182,226 tonnes, while exports to China plummeted to 45,000 tonnes from 82,800 tonnes.
On the other hand, demand from India and the subcontinent region actually increased. Exports to that region reached 182,930 tonnes, up from 132,320 tonnes during the 1-20 August period.
In terms of products, exports of crude palm oil or Malaysian CPO actually increased to 194,970 tonnes from 155,320 tonnes. However, the decline in several processed products meant that total overall exports remained weak.
CPO Still Faces Pressure
From a technical perspective, Reuters commodity analyst Wang Tao assesses that CPO has the potential to test the support area of MYR 4,868 per tonne. If that level is breached, prices could potentially move towards the MYR 4,811-MYR 4,844 per tonne range.
Meanwhile, the MYR 4,902 per tonne level is a critical area that needs to be maintained. If prices can hold and continue their ascent, CPO has the opportunity to move towards the MYR 4,931-MYR 4,959 per tonne range.
More broadly, CPO remains in a consolidation phase within the MYR 4,814-MYR 5,032 per tonne range. Subsequent movements will be heavily influenced by developments in export demand and the ability of prices to maintain support levels in the coming sessions.