ASEAN palm oil: Key newsflow (June 20 – 26) Quick Note

Research evidence excerpt

ASEAN palm oil: Key newsflow (June 20 – 26) Quick Note

Global Markets Research

26 June 2026ASEAN palm oil

EQUITY: AGRI-RELATED

Key newsflow (June 20 – 26) Research Analysts

ASEAN Agri-Related

Raghavendra Divekar, CFA - NSMQuick Note raghavendra.divekar@nomura.com

+603 2027 6893

Fig. 1: Nomura CPO price gauge

Research Associates We expect CPO prices to remain at ~MYR4,500/MT by 2 July 2026

Amol Dongre - NSFSPL

Source: Nomura estimates

We expect CPO prices to remain at ~MYR4,500/MT by 2 July 2026

The spot price for CPO (crude palm oil) was flat w-w at MYR4,495/MT in the week ended

25 June, according to the Malaysian Palm Oil Board (MPOB). This was largely due to

weaker prices of crude oil being balanced by concerns over El Nino. Next week, we

continue to expect prices to remain relatively steady as concerns over weaker oil prices

are balanced by growing exports and weak MYR. Overall, we expect average CPO price

to remain at ~MYR4,500/MT by 2 July. However, if exports weaken, CPO prices could

decline to ~MYR4,400/MT, in our view.

Indonesia gives retailers three months to shift to B50 biofuel

According to Bloomberg News (link), Indonesia will allow fuel retailers three months to

clear stockpiles of B40 and shift to a higher blend of 50% palm-based biodiesel. Eniya

Listiani Dewi, Director General for New and Renewable Energy at the Energy Ministry,

confirmed that all fuel retailers will supply gasoil mixed with 50% palm-biodiesel by 1

October 2026, following the official B50 launch on 1 July. She also noted that state fuel

retailer Pertamina can clear B40 stocks within two months. The government is still

finalizing details of palm oil allocations for the program, according to the ministry.

Our view: We think the government is delaying the full implementation of the B50