JAKARTA: Trading in Malaysian palm oil futures, which were set for weekly gains, halted on Friday due to a system outage of the Globex electronic trading platform, with all of Bursa Malaysia derivative products affected, according to the bourse.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.54%, to 4,112 ringgit ($995.88) a metric ton – its third straight session of gains – before trading was halted at around 10:36 a.m. (0236 GMT).
It was not clear exactly how many CME products were affected but prices for WTI crude, Treasury futures, S&P 500 futures, palm oil and gold were not updating, according to LSEG Data.
“Our priority is to minimise impact and ensure market integrity,” the bourse said in a statement, adding it was working with Globex provider Chicago Mercantile Exchange Group to restore services as quickly as possible.
The benchmark contract has risen 1.1% so far in the week, but has lost 2.78% for the month.
The price was supported by output concern as production in Malaysia and Indonesia has been hampered by flooding, even as demand from India shows signs of recovery, said a Mumbai-based dealer with a trade house.
The Dalian Commodity Exchange’s most-active soyoil contract gained 0.68%, while its palm oil contract increased 1.63% as of 0554 GMT.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Malaysia commodities minister said on Thursday palm oil exports to China fell by almost 29% in the first 10 months of 2025.
Indonesia exported 2.2 million tons of palm oil in September, including refined products, the Indonesian Palm Oil Association (GAPKI) said.
Exports of Malaysian palm oil products for the November 1-25 period were seen down between 16.4% and 18.8% from a month earlier, according to independent inspection company AmSpec Agri and cargo surveyor Intertek Testing Services.
Palm oil may extend gains into 4,145 ringgit to 4,171 ringgit per metric ton, as it has climbed above the November 13 low of 4,078 ringgit.
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