Source: Oleoscope (Ukraine)
Palm oil prices 2026 continue to surge on global exchanges. Specifically, the benchmark June palm oil contract on the Bursa Malaysia Derivatives Exchange (BMD) rose for the fourth consecutive session. Furthermore, it closed Monday up 1.8%, gaining 82 ringgit to 4,654 ringgit (US$1,184.83) per tonne at the close. Consequently, it reached its highest level in more than a year, according to Business Recorder.
Palm Oil Prices 2026: Global Market Drivers
Crude palm oil futures received support from a significant rise in Dalian palm olein oil prices. Moreover, these traded at their highest since June 2022 during the morning Asian session. Additionally, the market benefits from rising oil prices.
The most actively traded Dalian soybean oil contract rose 0.09%. Meanwhile, the palm oil contract rose 2.39%. Furthermore, soybean oil prices on the Chicago Mercantile Exchange fell 1.69%.
Oil prices track oil prices as commodities compete for share in the global fuel production market. Moreover, higher oil futures prices make palm oil a more attractive feedstock option for biodiesel production. Meanwhile, alternative oils rise in price along with the primary oils.
Geopolitical Factors and Export Data
Oil prices have risen amid the ongoing US-Israeli war against Iran. Furthermore, this conflict disrupts oil production and transportation in the Middle East. However, this continues despite US President Donald Trump’s call for a global effort to secure the vital Strait of Hormuz.
Experts estimate that Malaysian palm oil exports increased by 43.5% to 56.9% from March 1 to 15 compared to the previous month. Additionally, official data from the Palm Oil Council is expected later this month.
Meanwhile, the ringgit, the palm oil currency, strengthened by 0.2% against the dollar. Consequently, this makes the commodity more expensive for buyers holding foreign currency.
According to OleoScope, the average offered price of sunflower oil (FOB Black Sea ports) for March delivery was $1,355,000 per tonne. Furthermore, this is the highest price in three years.
