Palm Oil Starts Week Higher

Malaysian palm oil futures were above MYR 4,400 per tonne, rebounding from prior losses on expectations of strong demand from India ahead of October’s festive season. Meanwhile, an industry analyst projected India’s edible oil imports to rise 4.6% to a record 17.1 million tonnes in 2025/26, driven by increased palm oil purchases. In Indonesia,the world’s largest palm oil producer, exports to the EU are set to climb next year, supported by a bilateral trade pact and the EU’s second delay of its anti-deforestation law. However, further gains were limited by a stronger ringgit and weaker rival oils on the Dalian and Chicago exchanges. Meanwhile, crude oil prices slipped amid rising supply in an already saturated market, adding pressure to broader energy sentiment. Some market participants remained cautious, awaiting September export estimates from cargo surveyors in the coming days. Simultaneously, Malaysian output is expected to peak in September and October due to favorable weather.