Malaysian palm oil prices strengthened, hovering above MYR 4,550 per tonne after recent declines, supported by a weaker ringgit and firmer crude oil prices. Stronger demand also lent support, with cargo surveyors estimating June 1–25 palm oil exports rose between 10.6% and 11.1% from the same period in May. In Indonesia, the top producer and exporter, President Prabowo is set to launch the B50 biodiesel mandate on July 1 to advance energy independence. At the same time, demand prospects in China, another key consumer, improved after manufacturing and services returned to modest growth in June. However, softer edible oil prices on the Dalian and Chicago exchanges limited strength. Sentiment was further weighed by Indonesia’s move to cut its July crude palm oil reference price to USD 1,000.90 per tonne from USD 1,029.51 in June. Investors also remained cautious ahead of monthly industry supply and demand data due later this month.

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