InfoSAWIT, JAKARTA — Malaysian crude palm oil (CPO) futures are set to record a weekly gain after rising for three consecutive sessions on the Bursa Malaysia Derivatives Exchange, supported by stronger rival vegetable oils and expectations of tighter supply from Indonesia.

According to Reuters, the benchmark March CPO contract rose 0.87% to RM4,078 per tonne on Friday, bringing weekly gains to around 2.18%.

Sunvin Group analyst Anilkumar Bagani said a potential increase in Indonesia’s palm oil export levy would enhance Malaysia’s export competitiveness.

Indonesia’s renewable energy director Eniya Listiani Dewi confirmed the government is considering higher export taxes to support the expanding biodiesel mandate amid tight financing.

Rising crude oil prices and gains in soybean oil markets in Dalian and Chicago further supported palm oil demand, reinforcing bullish sentiment across the vegetable oil complex. (T2)