On Friday, the January 2026 delivery price for 33-degree refined palm oil stood at $1,022.50 per metric ton, down $22.50 from a week earlier; the February-March delivery price was quoted at $1,027.50 per metric ton, down $20; April-June delivery quoted at $1,027.50/mt, down $22.50; July-September delivery quoted at $1,022.50/mt, down $17.50; October-December delivery quoted at $1,025.00/mt, down $17.50. All prices are FOB Malaysian ports.

January 2026 delivery of 24-degree refined palm oil is quoted at $1,027.50 per ton, down $22.50 from a week ago; February to March quotes are $1,032.50, down $20; April to June quotes stood at $1,032.50/mt, down $22.50; July to September quotes were $1,027.50/mt, down $17.50; October to December quotes were $1,030.00/mt, down $17.50. All prices are FOB Malaysian ports.

Regarding related market movements, as of the week ending January 2, March palm oil futures on the Bursa Malaysia Derivatives (BMD) closed at RM3,990 per tonne, down 2.42% from a week earlier; March soybean oil futures on the Chicago Board of Trade (CBOT) closed at 49.30 cents per pound, up 0.16% from a week earlier; The Dalian Commodity Exchange was closed on Thursday and Friday. As of Wednesday (December 31), the May soybean oil futures contract on Dalian traded at 7,862 RMB//ton, up 0.33% from a week earlier; the May palm oil futures contract traded at 8,584 RMB/ton, up 0.19% from a week earlier.

In the just-concluded 2025, palm oil futures fell nearly 9%, primarily due to increased palm oil supply, export demand facing competition from Indonesia, a strengthening ringgit exchange rate, and pressure from falling international oil prices.

Traders noted that high palm oil inventories in Malaysia weighed on market sentiment.

The Malaysian Palm Oil Board (MPOB) is expected to release December supply and demand data on January 12. Data released last month showed palm oil inventories hit a six-and-a-half-year high at the end of November.

MPOB Chief Ahmad Parviz Ghulam Kadir stated in early December that Malaysia's palm oil production is projected to exceed 20 million tons for the first time in 2025, primarily driven by more efficient harvesting, improved labor supply, and increased yields from mature plantations. Kadir anticipates a further modest rise in inventories by the end of December.

Meanwhile, Malaysia's palm oil exports in December fell short of expectations. Shipping survey agency S&P Global Platts reported on Friday that Malaysian palm oil exports declined 5.2% to 5.8% month-on-month in December. Market participants had anticipated a potential increase in December exports compared to November's low base.

Indonesia's Ministry of Trade announced that the country has set its January crude palm oil reference price at US$915.64 per ton, down from US$926.14 per ton in December.

On Friday, the ringgit traded at 4.055 ringgit per US dollar, compared to 4.048 ringgit a week earlier.

Note: 1 US dollar = 4.055 ringgit

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