Malaysian palm oil futures traded lower, hovering below MYR 4,600 per tonne and retreating after recent gains as softer Chicago soyoil prices weighed on sentiment. Also, market participants remained cautious ahead of the Malaysian Palm Oil Board’s monthly report, with Reuters projecting stocks likely hit a record June high as output outpaced demand. In India, the world’s top buyer, June imports fell to a 14-month low on sluggish consumption and a narrowing discount versus rival oils. Still, losses were cushioned by a weaker ringgit, firmer edible oil prices on China’s Dalian exchange, and stronger crude oil, which boosts palm’s appeal as biodiesel feedstock. Demand prospects brightened after cargo surveyors estimated July 1–5 exports rose between 10.6% and 11.1% from the same period in June. Meanwhile, in China, another major importer, consumer prices rose less than expected while factory-gate inflation showed signs of peaking, underscoring a mixed backdrop for edible oil demand.

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