Malaysian palm oil continues to rise amid stronger prices in China

On Thursday, November 12, 2026, Malaysian palm oil futures rose for a second consecutive trading session, supported by higher edible oil prices on Asian exchanges. At the close of trading on the Bursa Malaysia Derivatives Exchange, the January contract gained 29 ringgit, or 0.66%, to 4,439 ringgit per ton ($1,087.99). Meanwhile, substantial domestic palm oil inventories and weaker crude oil prices limited further gains.

The main support for the Malaysian market came from rising edible oil prices on China’s Dalian Commodity Exchange. The most actively traded soybean oil futures contract increased by 0.46%, while palm oil futures advanced by 2.55%. Earlier gains in soybean oil prices in Chicago also provided support. However, during Asian trading hours, soybean oil futures on the CBOT declined by 0.44%.

Despite the price increase, the market remains under pressure from substantial palm oil inventories in Malaysia. According to traders, some market participants began taking profits after futures reached a key resistance level. High inventories are limiting the potential for further price increases, as they indicate ample domestic supplies.

Another factor restraining prices was the decline in global crude oil prices. Cheaper crude oil reduces the competitiveness of palm oil as a feedstock for biodiesel production, potentially weakening demand from the biofuel sector. Meanwhile, geopolitical tensions in the Middle East and developments involving Russia continue to influence energy markets, contributing to price volatility.

The weakening of Malaysia’s national currency provided some support for palm oil export prospects. On Thursday, the Malaysian ringgit depreciated by 0.15% against the US dollar, making the commodity slightly cheaper for overseas buyers. Further price movements will depend on developments in competing edible oil markets, Malaysian inventory levels, currency fluctuations and global energy prices.

Tags: China, Malaysia, palm oil, edible oils