Palm Oil Rises as Market Sentiment and Export Hopes Firm Up
Palm oil futures in Malaysia rose in Asian trade on firmer sentiment and export demand hopes, though high stocks and October output cap gains.
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what happened
Palm oil prices climbed in Asian trading as market mood improved and traders hoped for better export demand, according to Market Talk, which cited David Ng, a trader at Kuala Lumpur-based Iceberg X.
Gains are limited by elevated Malaysian inventories and strong October production. Ng expects crude palm oil (CPO) to stay within a range in the near term, with resistance at 4,800 ringgit per ton and support at 4,600 ringgit. January contracts on Bursa Malaysia Derivatives gained 5 ringgit to 4,797 ringgit per ton.
why it matters
Palm oil is one of the most widely used vegetable oils, so its futures prices shape expectations for edible oil and oilseed costs. Traders watch stock and output data from Malaysia, a leading producer, especially closely.
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sources
- Palm Oil Rises on Stronger Market Sentiment — Market Talk, 23 October 2026 at 02:45 UTC
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