Malaysian palm oil prices rose to 4,184 ringgit, amid expectations of declining inventories after 10 months.
Malaysian palm oil futures prices recovered on February 9th, reaching 4,184 ringgit per ton as the market awaited data from the MPOB and forecasts of the first inventory decline in almost a year.
Malaysian palm oil futures prices rebounded on February 9, 2026, reflecting the upward trend in soybean oil markets in Chicago and Dalian. Investors are currently focused on upcoming key data releases from the Malaysian Palm Oil Board (MPOB) and developments at the Price Outlook Conference (POC) taking place from February 9-11, 2026.
Palm oil price movements on exchanges
The FCPOc3 palm oil contract for April 2026 delivery on the Bursa Malaysia exchange saw positive movement during the day. At the start of trading, the price rose 12 ringgit (0.29%), reaching 4,166 ringgit (equivalent to US$1,060.32) per ton. By lunchtime, the gains extended by another 30 ringgit, or 0.72%, closing at 4,184 ringgit (US$1,063.01) per ton.
| Exchange | Item | Morning session volatility | Lunch break time fluctuations |
|---|---|---|---|
| Bursa Malaysia | Palm oil (FCPOc3) | +0.29% | +0.72% |
| Dalian | Soybean oil (DBYcv1) | +0.39% | +0.17% |
| Dalian | Palm oil (DCPcv1) | -0.07% | Stable |
| Chicago | Soybean oil (BOc2) | +1.3% | +1.63% |
In the Chinese market, soybean oil futures on the Dalian exchange edged up 0.17% at lunchtime, while palm oil prices remained stable. In Chicago, soybean oil prices saw stronger growth at 1.63%.
Pressure from exchange rates and crude oil
The Malaysian ringgit depreciated against the US dollar, falling 0.33% in early trading and narrowing to 0.13% by midday. A weaker domestic currency typically makes palm oil more attractive to foreign buyers due to lower conversion costs, thereby supporting market demand.
However, the weakening of US crude oil prices is creating some headwinds. As crude oil prices fall, palm oil becomes less competitive as a feedstock for biodiesel production. Furthermore, Reuters technical analyst Wang Tao predicts that palm oil prices are likely to test the support level of 4,148 ringgit/tonne and could retreat to the 4,083 ringgit/tonne range.
Inventory forecasts end upward trend.
One of the most important pieces of information supporting prices in this session was the Reuters survey results. It is expected that Malaysian palm oil inventories in January 2026 will end a 10-month streak of continuous increases. The main reason is believed to be strong export growth while production is entering a seasonal decline.
Official data from MPOB is expected to be released on Tuesday (February 10, 2026), which will be a crucial basis for determining short-term price trends in the global vegetable oil market.
