Malaysian palm oil futures extended gains, hovering above MYR 4,500 per tonne as firmer edible oil markets in China’s Dalian and Chicago exchanges provided support. Stronger export demand also lifted prices, with cargo surveyors estimating July 1–5 palm oil shipments rose between 10.6% and 11.1% from the same period in June. However, further gains were capped by a stronger ringgit, alongside reports that imports by top buyer India fell to a 14-month low in June amid sluggish demand and narrowing price discounts compared with competing vegetable oils. Meanwhile, Reuters forecast that Malaysian palm oil inventories likely rose in June to their highest level on record for the month, as stronger production outpaced demand. Investors also remained cautious ahead of the Malaysian Palm Oil Board’s monthly report due later this week. Meanwhile, upcoming June CPI and PPI data from China, another key buyer, will be closely watched for clues on demand.

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