Malaysian palm oil prices fell slightly, hovering around MYR 4,100 per tonne after logging gains in the previous three sessions. A decline in rival Dalian vegetable oils weighed on sentiment, alongside growing concerns after India—the world’s largest importer— canceled around 65,000 metric tons of crude palm oil deliveries scheduled for July to September due to elevated prices and shrinking import margins.
Demand prospects in China also remained muted amid sluggish economic conditions. Still, downside pressure was limited by a weakening ringgit, which boosts the competitiveness of Malaysian exports, and a surge in crude oil prices following U.S. strikes on key Iranian military sites that escalated regional tensions. Signs of resilient exports also offered some support, with cargo surveyor data showing Malaysian palm oil shipments rose between 10.9% and 14.3% during the first 20 days of June compared to the same period a month earlier.
