Mumbai: Crude palm oil (CPO) futures concluded on a higher note on Thursday, following a two-day holiday, as a result of a rally in Chicago Board of Trade (CBOT) soybean oil and energy futures on the Chicago Mercantile Exchange (CME).

According to BERNAMA News Agency, Anilkumar Bagani, head of commodity research at the Mumbai-based Sunvin Group, stated that CPO futures are catching up to the vegetable oil price action in related markets that took place during Malaysian holidays. He highlighted the focus on the February 1-20, 2026, palm oil export data and production outlook, which may provide clearer price direction in the near term.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa noted that soybean oil futures on the CME increased amid speculation about rising soybean oil demand under the United States biodiesel programme, following the imminent submission by the Environmental Protection Agency (EPA) to the White House.

Export estimates for February 1-15, 2026, showed a decline compared to the same period in January. According to AmSpec Agri Malaysia (AMSPEC), palm oil exports reduced to 587,431 tonnes from 690,642 tonnes previously, marking a decrease of 103,211 tonnes or 14.94 per cent.

At the close, the March 2026 contract rose RM80 to RM4,093 per tonne, April 2026 increased RM94 to RM4,114 per tonne, and May 2026 added RM101 to RM4,117 per tonne. The June 2026 contract climbed RM105 to RM4,116 per tonne, July 2026 surged RM103 to RM4,111 per tonne, while August 2026 soared RM106 to RM4,108 per tonne.

Trading volume increased to 72,636 lots from 40,371 on Monday, while open interest slightly decreased to 223,809 from 225,359 previously. The physical CPO price for March South fell RM80 to RM4,120 per tonne.