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Malaysia’s Crude Palm Oil Futures Slide 3% to 4,002 Ringgit Amid Global Demand Concerns

Updated: June 24, 2025 10:20

Image Source: iStock
Malaysia's crude palm oil (CPO) futures contract benchmark (FCPOc3) plummeted significantly by 3.01%, settling at 4,002 ringgit a metric ton on 24 June 2025. The decline is proof of heightened concerns of sluggish global demand, particularly from major importers like India and China, and substitute pressure from other edible oils.
 
1. Market Drivers Behind the Decline
  • India's proposals to reduce imports of vegetable oils have added significant weight to sentiment, with traders eagerly awaiting lower near-term demand.
  • Weakening in alternative edible oils, such as soyoil and sunflower oil, has contributed further to bearish momentum.
  • Analysts explain that the CPO market is reacting positively to fears of oversupply and profit-taking after recent gains.
2. Broader Commodity Context
  • The drop in palm oil futures is part of a broader softening in agricultural commodities, with soybean oil futures also down at the Chicago Board of Trade.
  • Currency fluctuations, such as a slightly weaker Malaysian ringgit, have not been enough to offset pressure on prices lower. 
3. Outlook Ahead
  • Market analysts expect volatility to continue in the weeks to come, especially as weather trends and export volumes out of Malaysia and Indonesia continue to fluctuate.
  • Technical experts indicate that palm oil can test support levels of about 3,950 ringgit, with resistance approximately 4,100 ringgit.
Sources: Economic Times, YCharts, IndexMundi 

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