According to foreign media reports on April 9: On Thursday, the Asian spot palm oil market rose, primarily due to a rebound in international oil prices, with the weak ringgit also providing support. Traders continued to monitor the situation in the Middle East and awaited key data due out on Friday.

On Thursday, the quoted price for 33-degree refined palm oil for April 2026 delivery was $1,190 per ton, up $5 from the previous trading day; prices for May to June were $1,195, up $7.5; prices for July to September were $1,195, up $10; and the October–December contract was quoted at $1,180, up $7.50. All prices are FOB Malaysian ports.

The April 2026 delivery contract for 24° refined palm oil was quoted at $1,197.50 per ton, up $7.50 from the previous trading day; May–June quotes stand at $1,200, up $7.50; July–September quotes are $1,200, up $10; October–December quotes are $1,185, up $7.50. All are FOB quotes from Malaysian ports.

On Thursday, crude palm oil futures on the Bursa Malaysia Derivatives (BMD) rose, with the benchmark June crude palm oil contract gaining 56 ringgit, or 1.22%, to close at 4,642 ringgit per ton, equivalent to $1,165.20 per ton.

International oil prices rose nearly 4% on Thursday, rebounding from Wednesday’s sharp decline, driven by a ceasefire in the Middle East and uncertainty surrounding crude oil supply. Rising crude oil prices are expected to boost demand for biofuels, with palm oil serving as the feedstock for biofuels in Indonesia and Malaysia, the two major palm oil-producing nations.

Malaysia plans to roll out the B20 palm oil-based biodiesel program nationwide in phases. Indonesia’s Ministry of Energy has established a timeline for the mandatory implementation of B50 biofuel blending to achieve its energy transition and self-sufficiency goals.

A series of key data releases are scheduled for Thursday, including official March figures from the Malaysian Palm Oil Board (MPOB) and early April palm oil export data from shipping survey agencies.

Industry sources expect Malaysian palm oil inventories at the end of March to have fallen to an eight-month low, marking the third consecutive month of decline. Surveys indicate that palm oil inventories at the end of March are estimated at 2.18 million metric tons, down 19.2% month-on-month, the lowest level since July of last year; Production is estimated at 1.34 million metric tons, a 4% increase from the previous month, ending a four-month consecutive decline, though it remains the lowest output for this time of year in two years; exports are estimated at 1.56 million metric tons, a 38.3% increase from the previous month.

Shipping survey agencies estimate that Malaysia’s palm oil exports in March rose 46.2% month-on-month to 56.7%.

The weak ringgit exchange rate has made ringgit-denominated palm oil more attractive to buyers holding foreign currencies.

On Thursday, the ringgit traded at 3.984 ringgit per U.S. dollar, compared to 3.976 ringgit in the previous trading session.

Note: 1 U.S. dollar equals 3.984 ringgit

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