Palm oil prices increased in late January, with BMD crude palm oil rising to $1,051 per tonne from $1,003 per tonne the previous week, supported by strengthening rival edible oil prices and firmer energy markets.

Malaysian palm oil exports continued strengthening in January, with shipments reaching 1.16 million tonnes for January 1-25, up approximately 8-10% month-on-month. The increase reflected stronger buying interest ahead of the Lunar New Year, with industry experts reporting improving global import demand particularly from India and China.

BMD crude palm oil futures extended gains to the RM4,170-4,225 per tonne range across nearby contracts, supported by strong January export estimates and expectations of weaker production in coming weeks. A stronger ringgit partially capped price advances.

Global palm oil output for April-September 2026 is projected at 43.6 million tonnes versus 44.3 million tonnes a year earlier, while Indonesian 2026 production has been revised down by approximately 1.2 million tonnes, increasing medium-term supply uncertainty.

Indian soybean oil demand weakened as buyers cancelled 35,000-40,000 tonnes of South American shipments due to a weaker rupee and high prices. The widening premium of soybean oil over palm oil reached approximately $146 per tonne, accelerating a shift toward cheaper tropical oils.

CBOT crude soybean oil prices increased to 53.99 US cents per pound from 52.56 cents, extending the recent upward trend. Brazilian soybean oil fundamentals remain under pressure with excess domestic supply and a slowdown in the biodiesel sector leading to elevated inventories and reduced liquidity in December.

Crude rapeseed oil prices for March delivery firmed to €1,040 per tonne from €1,028 per tonne, indicating modest recovery in the forward market. Ukrainian rapeseed meal exports rose 70% year-over-year in July-December 2025/26 to 340,000 tonnes, driven by higher domestic crushing volumes of around 800,000 tonnes.

Sunflower oil prices softened slightly, with FOB 6 Ports crude sunflower oil for March 2026 assessed at $1,490 per tonne, down from $1,510 per tonne. Ukrainian sunflower seed prices reached seasonal highs at UAH 29,000-30,000 per tonne ($590-610 per tonne ex-VAT), supported by higher oil prices and currency weakness.

Coconut oil prices in Europe remained stable around $2,140-2,150 per tonne CIF West Europe, with the premium over palm kernel oil staying below $400 per tonne for a second consecutive week. Crude palm kernel oil prices increased to $1,816 per tonne from $1,732 per tonne.


This newsarticle is part of a more comprehensive market analysis on the vegetable oil market. For the full analysis, visit: https://app.vespertool.com/market-analysis/2633