InfoSAWIT, JAKARTA – Crude palm oil (CPO) prices offered through PT Kharisma Pemasaran Bersama Nusantara (KPBN) continued their upward trend on Wednesday, June 3, 2026, supported by stronger sentiment in both global energy markets and the Malaysian palm oil futures market.
KPBN set the benchmark CPO price at Rp15,025/kg, marking an increase of Rp175/kg, or approximately 1.18%, compared to the highest bid recorded on June 2, which stood at Rp14,850/kg.
Market data obtained by InfoSAWIT showed that Franco Belawa and Kuala Tanjung CPO contracts were priced at Rp15,025/kg, while Franco Talang Duku was set at Rp14,825/kg and Franco Teluk Bayur at Rp14,875/kg.
The strengthening domestic market coincided with gains in Malaysian palm oil futures, which resumed trading after an extended holiday break. Traders attributed the rally to higher crude oil prices and stronger soybean oil markets, both of which improved sentiment across the global vegetable oil sector.
According to market reports cited by Bernama, expectations of lower palm oil production in the coming weeks also provided support for prices.
Data released by the Southern Peninsular Palm Oil Millers Association (SPPOMA) indicated that Malaysian palm oil production during May 1–31, 2026 declined by 10.07% compared to the previous period, reinforcing expectations of tighter short-term supplies.
In addition, rising energy prices contributed to the positive outlook. Brent crude oil gained 2.08% to reach US$98 per barrel during the same trading session, increasing the attractiveness of palm oil as a biodiesel feedstock and supporting demand prospects.
At market close, June and July 2026 palm oil futures contracts surged RM135 to RM4,605 per tonne and RM4,638 per tonne respectively. August contracts climbed RM142 to RM4,677 per tonne, while September and October contracts gained RM144 to settle at RM4,705 and RM4,734 per tonne.
Meanwhile, the November 2026 contract rose RM141 to RM4,761 per tonne, reflecting continued market optimism regarding palm oil fundamentals.
Trading activity also strengthened considerably, with volume increasing to 104,077 lots compared to 76,012 lots recorded before the holiday period. Open interest rose to 289,868 contracts from 285,715 contracts previously.
In the physical market, Southern Malaysian CPO prices for June delivery advanced RM150 to RM4,640 per tonne, further highlighting improving sentiment across the regional palm oil market. (T2)
