Malaysian palm oil prices rose over 1% to around MYR 4,120 per tonne, gaining for the second straight session, supported by a weaker ringgit and strength in Chicago soyoil and Dalian palm oil futures. On the supply side, production is expected to ease temporarily as oil palm trees enter their seasonal rest phase ahead of peak output in Q3. Meanwhile, exports showed signs of improvement, with shipments of Malaysian palm oil products in June rising by 4.3% to 4.7% from May, according to cargo surveyor data. Demand prospects also remained strong, particularly from India—the world’s largest palm oil importer—where June imports surged to an 11-month high amid favorable pricing. However, further upside was limited by renewed concerns over global trade tensions, as U.S. President Trump began notifying trade partners of sharply higher tariffs set to take effect on August 1, following a temporary delay of duties initially planned for April.
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