Malaysian palm oil futures hovered around MYR 4,260 per tonne, rising for the first session in three, supported by a weaker ringgit and gains in Dalian soyoil. Robust demand from top buyer India is also expected to continue ahead of the Diwali festival in mid-October. In June, India’s palm oil imports jumped to an 11-month high, driven by low domestic stocks and attractive pricing compared to soyoil and sunflower oil. However, signs of weak exports capped further gains, with cargo surveyors noting that Malaysian palm oil shipments for July 1–25 fell between 9.2% and 15.2% from June. Meanwhile, supply-side pressures remain, as the Malaysian Palm Oil Board projects production could rise to 19.5 million tonnes in 2025 from 19.3 million in 2024 due to improved labor conditions. On the tariff front, U.S. Commerce Secretary Lutnick said the Trump administration is “likely” to extend a 90-day tariff pause with China, possibly paving the way for a Trump-Xi Jinping meeting later this year.
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