Malaysian palm oil futures rose over 1% to above MYR 4,500 per tonne on Thursday, rebounding from losses in the previous two sessions, supported by a weaker ringgit and firmer edible oil prices on the Dalian and Chicago markets. Gains in crude oil also lifted sentiment, amid expectations of de-escalation in the Middle East conflict. Strong export data further underpinned prices, as cargo surveyors estimated Malaysian palm oil shipments for March 1–25 surged between 38.4% and 50.6% from the same period in February, pointing to robust post-Eid demand and prompting fresh buying interest. However, upside momentum was capped by projections that imports from top buyer India may decline to around 680,000 tonnes in March, down from 847,689 tonnes in February. Meanwhile, in Indonesia, the world’s largest producer, export taxes could be lifted in April, as authorities move to accelerate the rollout of the B50 biodiesel mandate.
