Malaysian palm oil futures traded above MYR 4,550 per tonne, rebounding from recent losses as a weaker ringgit improved export competitiveness and firmer Chicago soyoil lifted sentiment across the vegetable oil complex. A jump in crude oil prices, driven by fading hopes for a near-term resolution to Middle East tensions, added support through biofuel demand. In top producer Indonesia, authorities issued a technical regulation tightening oversight of key commodity exports, including palm oil, a move that could redirect some demand toward Malaysia. However, gains were capped by weaker rival oils on China’s Dalian exchange and bets of ample supply. A Reuters survey suggested Malaysia’s inventories likely rose again in May, as sluggish exports outweighed lower output. Cargo surveyors estimated shipments fell 8.8%–15.5% from April, underscoring soft demand. Purchases by top buyer India recovered modestly from April’s four-month low but remained below typical levels, limiting the upside.

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