Malaysian palm oil prices extended their gains in recent trading, supported by stronger export figures and positive market fundamentals. Futures contracts on the Bursa Malaysia Derivatives Exchange rose as traders reacted to robust export demand data and supportive global edible oil trends.
Palm oil futures were firmer, tracking gains in rival edible oils and crude oil markets. Although a stronger Malaysian ringgit has capped some upside, prices maintained an upward trajectory as demand outlooks improved.
January export figures showed strong shipment activity, with traders citing favorable data on export volumes as a key factor in supporting prices. Some analysts noted that expectations of continued solid external demand helped underpin bullish sentiment.
Despite the overall positive momentum, the stronger ringgit limited more accelerated gains by making Malaysian palm oil relatively more expensive for buyers using other currencies. Still, the market’s focus remains on demand resilience and export trends.
Market participants are watching factors such as global vegetable oil prices, biodiesel demand, and seasonal consumption patterns. Export prospects to key markets and any shifts in production dynamics will influence prices in the near term.
