Malaysian palm oil prices surged over 3.5% to over MYR 4,050 per tonne, marking gains for the second session and hitting their highest level in seven weeks. The rally tracked strength in rival soyoil on the Chicago and Dalian exchanges, alongside a further rise in crude oil prices amid geopolitical tensions. On the export front, shipments rose 26.3% from the same period in May to 662,580 metric tons during June 1–15, Intertek Testing Services reported.
An industry expert also noted recently that exports may peak around August. In top buyer India, palm oil imports jumped 84% in May from April to a six-month high, driven by low inventories and wider discounts to soyoil and sunflower oil. However, gains were capped by concerns over rising inventories, with end-May stocks climbing 6.7% to 1.99 million tonnes — the highest since September 2024 and the third monthly increase. Meanwhile, production is expected to keep rising through September, supported by favorable weather and replanting.
