Palm Oil Eases Slightly to Begin the Week

Malaysian palm oil futures edged lower to around MYR 4,440 per tonne after modest gains in the prior session, as trade resumed from last week’s shortened holiday break. Sentiment was weighed by a stronger ringgit and weakness in edible oils on the Dalian market. Traders stayed cautious ahead of monthly data from the Malaysian Palm Oil Board due later this week. Reuters projected stocks to rise for a sixth straight month in August, with production continuing to outpace exports despite signs of demand recovery. In China, a major buyer, August trade figures grew less than expected amid U.S. tariffs and weak domestic demand. Still, losses were capped by signs of firm exports, with cargo surveyors estimating August shipments rose 10.2%–15.4% from July. Turning to the top buyer India, palm oil purchases in August jumped 16% to 993,000 tonnes—the highest since July 2024—as refiners stepped up buying ahead of the mid-October festival season, with palm oil remaining far cheaper than soyoil.