Palm oil firms as Dalian rival vegetable oils advance
Malaysian palm oil futures edged up on Tuesday, tracking firmer soyoil and palm contracts in Dalian, according to Reuters data reported early in the session.
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what happened
According to Reuters, Malaysian palm oil futures climbed on Tuesday, buoyed by stronger rival edible oils on China's Dalian Commodity Exchange. The January contract on Bursa Malaysia Derivatives was up 33 ringgit, or 0.69%, at 4,799 ringgit ($1,175.94) per metric ton as of 02:38 GMT.
Dalian's most-active soyoil contract rose 0.26%, and its palm oil contract added 0.34%. Soyoil on the Chicago Board of Trade slipped 0.01%. Palm oil competes with other vegetable oils for share of the global market, so moves in those rivals quickly feed into its pricing.
Reuters technical analyst Wang Tao said the contract could move toward 4,854-4,875 ringgit per ton, pointing to a bullish triangle pattern and projection analysis. Today's calendar also includes UK claimant count and ILO unemployment data, Germany's ZEW sentiment survey and US housing starts.
why it matters
Palm oil typically follows soyoil and other edible oils, so gains on Dalian often carry over into Malaysian trading. The rate of 4.0810 ringgit per dollar means currency moves also change the dollar value of the contract, which matters to foreign buyers and funds.
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- Palm oil rises on higher Dalian rivals — Reuters, 20 October 2026 at 02:57 UTC
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