---
title: "VEGOILS-Palm extends gains, tracking Dalian, Chicago rivals"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277394906.md"
datetime: "2026-03-02T02:54:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277394906.md)
  - [en](https://longbridge.com/en/news/277394906.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277394906.md)
---

# VEGOILS-Palm extends gains, tracking Dalian, Chicago rivals

JAKARTA, March 2 (Reuters) - Malaysian palm oil futures extended gains to a second straight session on Monday, tracking strength in Dalian and Chicago edible oils, while gains in energy complex added support.

The benchmark palm oil contract (FCPOc3) for May delivery on the Bursa Malaysia Derivatives Exchange gained 37 ringgit, or 0.92%, to 4,079 ringgit ($1,045.09) a metric ton by 0231 GMT.

The contract dropped 4.47% in February, its steepest monthly decline since April 2025.

### FUNDAMENTALS

-   Dalian’s most-active soyoil contract (DBYcv1) gained 0.17%, while its palm oil contract (DCPcv1) rose 0.91. Soy oil on the Chicago Board of Trade (BOc2) climbed 1.7%.
-   Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market.
-   Chicago soybean futures rose on the day, tracking gains in soyoil after crude oil soared amid an ongoing military conflict in the Middle East. (GRA/)
-   Meanwhile, Indonesia has raised its crude palm oil exports levy to 12.5% of the CPO reference price from 10%, a finance ministry regulation showed, a move officials said aims to finance its biodiesel blending mandate.
-   Exports of Malaysian palm oil products fell 21.5% to 1,149,063 metric tons in February from 1,463,069 metric tons shipped during January, cargo surveyor Intertek Testing Services said.
-   Oil prices jumped 7% to their highest in months on the day, as Iran and Israel stepped up attacks in the Middle East, damaging tankers and disrupting shipments from the key producing region. (O/R)
-   Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

### MARKET NEWS

-   Oil prices surged and shares slid, as military conflict in the Middle East looked set to last weeks, sending investors flocking to the relative safety of the dollar and gold. (MKTS/GLOB) ($1 = 3.9030 ringgit)

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