According to foreign media reports on April 16: On Thursday, the Asian spot palm oil market largely stabilized. Although gains in external markets provided support, weak demand from major importing countries, expectations of increased production, and a stronger Malaysian ringgit weighed on palm oil prices.

On Thursday, the quote for 33° refined palm oil for April 2026 delivery was $1,170 per ton, unchanged from the previous trading day; quotes for May to June stood at $1,170, unchanged; quotes for July to September stood at $1,170, unchanged; quotes for October to December stood at $1,160, down $2.50; and quotes for January to March 2027 stood at $1,155 per ton, down $5. All prices are FOB Malaysian ports.

The price for 24° refined palm oil for delivery in April 2026 is $1,175 per ton, unchanged from the previous trading day; the May–June contract was quoted at $1,175, unchanged; the July–September contract was quoted at $1,175, unchanged; the October–December contract was quoted at $1,165, down $2.50; and the January–March 2027 contract was quoted at $1,160 per ton, down $5. All prices are FOB Malaysian ports.

On Thursday, crude palm oil futures prices on the Bursa Malaysia Derivatives (BMD) remained largely unchanged. The benchmark July 2026 crude palm oil futures contract fell by 2 ringgit, or 0.04%, to close at 4,495 ringgit per ton, equivalent to $1,136.80 per ton.

Traders noted that demand remains a concern, particularly from major importers India and China. Although production is expected to improve in the second quarter, buying interest from these two countries remains subdued.

The strengthening ringgit has further exacerbated market pressure. These factors collectively limited market gains, as rising production coupled with weak demand is likely to lead to a buildup of palm oil inventories.

Malaysian palm oil exports have been sluggish so far this month. A shipping survey agency reported on Wednesday that Malaysian palm oil exports from April 1 to 15 fell by about 34% month-on-month.

International oil prices rose on Thursday amid market doubts over whether peace talks between the U.S. and Iran would yield an agreement to end the war, which has caused unprecedented disruption to energy supplies in the Middle East. Rising oil prices help boost demand for biofuels, and palm oil is the raw material used to produce biofuels in Malaysia and Indonesia.

On Thursday, the ringgit traded at 3.954 to the U.S. dollar, compared with 3.955 in the previous trading session.

Note: 1 U.S. dollar to 3.954 ringgit

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