Palm Oil Eases on Weaker Demand Signals

Malaysian palm oil futures edged lower to hover below MYR 4,220 per tonne, reversing a near 2% surge from the prior session, rattled by declines in palm oil contracts on the Dalian exchange. Meanwhile, concerns about weakening exports resurfaced after cargo surveyors estimated that Malaysian palm oil shipments during the first 15 days of July fell between 5.3% and 6.2% compared to the same period in June. Sentiment was also weighed down by weather-related risks, as floods hit parts of Malaysia, including key palm-growing regions. Meanwhile, U.S. President Trump reportedly plans to send a single letter to over 150 countries, regardless of their trade volume with the U.S., proposing uniform tariffs, raising global trade uncertainty. However, further losses were limited by signs of steady demand from top buyer India, where importers took advantage of recent price declines to replenish stocks in June.