Palm oil price forecast for the last week of June 2026

Crude palm oil (CPO) futures on the Bursa Malaysia Derivatives exchange are anticipated to fluctuate within a trading range of RM4,200 to RM4,300 per tonne in the upcoming sessions, according to market insights. This projection comes even as geopolitical tensions in West Asia begin to cool down.

Jim Teh, a senior palm oil trader at the Interband Group of Companies, pointed out that market participants previously witnessed CPO futures capitalising on the geopolitical turmoil. The conflict had sparked speculative buying across the commodities sector, which in turn drove up energy costs. However, crude oil prices have since experienced a correction, dropping back to approximately US$80 per barrel. Teh noted that palm oil stood out as one of the major gainers during the rally triggered by these global conflicts.

Offering a slightly different perspective, David Ng, a proprietary trader at Iceberg X Sdn Bhd, suggested that CPO futures could exhibit a modest upward momentum. He estimates the commodity will trade within a higher bracket of RM4,550 to RM4,750 per tonne, supported by elevated energy costs and sustained strong demand.

Source: BERNAMA