Palm Oil Snaps Two-Day Losing Streak
Malaysian palm oil futures traded notably higher, hovering above MYR 4,500 per tonne and halting a two-day slide. Prices drew support from a weaker ringgit and stronger export outlook, with cargo surveyor data showing shipments of Malaysian palm oil products rose 10.9%–16.4% during August 1–25 from the same period a month earlier. Also lifting sentiment were signs of festive-led demand in India ahead of Diwali in mid-October, news that Indonesia reportedly secured a U.S. tariff exemption deal on commodities including palm oil, and Malaysia’s contingency plans to safeguard exports under EU deforestation rules. However, further gains were capped by data from the Malaysian Palm Oil Association indicating a month-on-month increase in crude palm oil output during August 1–20. Weakness in rival edible oils on the Dalian and Chicago exchanges also weighed on the market, while EU figures showed palm oil imports fell 34% yoy to 352,275 tonnes for the 2025–26 season beginning in July.