Palm Oil Flat After Monthly Data

Malaysian palm oil futures were little changed, hovering around MYR 4,250 per tonne after modest gains in the previous session, as traders assessed Malaysian Palm Oil Board (MPOB) monthly figures. Inventories in July rose 4.02% month-over-month to 2.11 million metric tons, the highest in nearly two years, while crude palm oil output jumped 7.09% to 1.81 million tons, the most since September 2024. Meantime, exports rebounded 3.82% to 1.31 million tons in July, after June’s sharp drop. Separately, cargo surveyor Intertek Testing Services said shipments for August 1–10 surged 23.3% to 482,576 metric tons. Beyond industry data, investors tracked the August 12 deadline for China to secure a lasting tariff deal with the U.S. In top producer Indonesia, biodiesel demand stayed firm under the 50% blending mandate, while in top consumer India, early purchases are expected in August and September ahead of the mid-October Diwali festivals.