Crude palm oil prices to stay above $1,128 per ton in November, MPOC says
KUALA LUMPUR: Crude palm oil prices are expected to stay above 4,600 ringgit ($1,128) per metric ton in November on stronger export demand, sustained biodiesel consumption and a seasonal decline in production, the Malaysian Palm Oil Council said on Thursday. Output declines were expected to reduce current stock levels, with Malaysian palm oil inventories projected to trend lower from November…
The Malaysian Palm Oil Council predicts that crude palm oil prices will remain above $1,128 per metric ton in November, according to a statement released on Thursday. Stronger export demand, consistent biodiesel consumption, and a seasonal dip in production are the primary drivers behind this anticipated price stability, the council noted.
As a result of the projected decline in current stock levels, palm oil inventories are expected to decrease from November 2026 through February 2027, further bolstering palm oil prices in the final quarter of 2026, the council added. Though the decline in palm oil exports in September may be temporary, the council expects shipments to surge in the October to December period.
India and China are likely to rely more on palm oil imports as sunflower oil and soybean oil supplies face anticipated restrictions, according to the council. Elevated energy prices continue to be a significant advantage for the vegetable oil market, encouraging increased biodiesel blending around the world, especially in Indonesia.
The main downside risks for palm oil prices include a decline in energy costs and weaker-than-expected global vegetable oil consumption in the food sector due to inflation and economic pressures, the council concluded.
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