Malaysian palm oil futures prices rebounded in trading on February 9, 2026, reflecting the upward trend in soybean oil prices on the Chicago and Dalian exchanges. This development occurred as investors awaited monthly data from the Malaysian Palm Oil Board (MPOB) and information from the Price Outlook Conference (POC).
Palm oil futures market trends
The FCPOc3 palm oil contract for April 2026 delivery on the Bursa Malaysia exchange started the trading session with a gain of 12 ringgit. However, the gains widened at lunchtime, reaching a 30 ringgit increase (equivalent to 0.72%), closing at 4,184 ringgit (US$1,063.01)/tonne .
The global vegetable oil market also saw significant fluctuations. On the Dalian Commodity Exchange, the DBYcv1 soybean oil contract rose 0.17% at lunchtime, while the DCPcv1 palm oil contract remained stable after a slight decline earlier in the session. Notably, on the Chicago exchange, the BOc2 soybean oil price recorded a sharp increase of 1.63%.
| Exchange | Item | Variation (%) | Price/Condition |
|---|---|---|---|
| Bursa Malaysia | Palm oil (April 2026) | +0.72% | 4,184 ringgit/ton |
| Chicago Board of Trade (CBOT) | Soybean oil | +1.63% | A sharp increase |
| Dalian | Soybean oil | +0.17% | Mild recovery |
Impact from exchange rates and crude oil
The Malaysian ringgit recorded a 0.13% drop against the US dollar at midday. A weaker domestic currency typically makes palm oil more attractive to international buyers due to lower procurement costs, thereby supporting market demand.
Conversely, US crude oil prices continued their downward trend today as concerns about supply disruptions in conflict zones eased. The weakening of crude oil prices makes palm oil a less attractive option as a feedstock for biodiesel production, putting some pressure on its upward momentum.
Inventory forecast and technical analysis
According to a Reuters survey, Malaysia's palm oil inventories in January 2026 are expected to end a 10-month streak of increases. This is mainly due to strong export growth while production is in a seasonal decline. The MPOB is expected to release official data on February 10, 2026.
Technically, Reuters analyst Wang Tao believes that palm oil prices are likely to face downward pressure. He suggests that prices could break through the support level of 4,148 ringgit/tonne and trend towards 4,083 ringgit/tonne in the short term.
Source: https://baodanang.vn/gia-dau-co-malaysia-tang-len-4184-ringgittan-truc-ky-vong-ton-kho-sut-giam-3323803.html
Comment (0)