Palm Oil Set to Finish Week on Upbeat Note

Malaysian palm oil prices traded around MYR 4,180 per tonne, rebounding from a slight drop in the prior session amid a weaker ringgit and gains in rival edible oils on the Dalian and CBOT markets. Meanwhile, exports of palm oil products during July 1–10 were estimated to have risen between 5.3% and 12% from a month earlier, according to cargo surveyor data. For the week, the contract is on track for the second straight weekly gain, up near 3% so far, boosted by strong demand from India—the top importer—after June imports reached an 11-month high on attractive pricing. However, gains were capped by data from the industry regulator showing Malaysia’s palm oil inventories rose 2.41% to an 18-month high of 2.03 million tons at the end of June. Adding to market caution, global trade risks intensified after Trump renewed tariff threats against Europe and Canada. Meanwhile, investors cautiously awaited upcoming key Chinese data, including June trade figures, industrial activity, and Q2 GDP.