Malaysian palm oil futures edged lower, holding below MYR 4,700 per tonne after a recent two-week peak, weighed by profit-taking and softer crude oil prices amid mixed U.S.–Iran signals. Meanwhile, Malaysia trimmed its July crude palm oil reference price but kept the export duty at 10%. Still, losses were cushioned by a weaker ringgit and strength in rival edible oils on Dalian and Chicago exchanges. Simultaneously, export momentum stayed firm, with cargo surveyors reporting June 1–20 shipments up between 19.1% and 25% from the same period in May. Meanwhile, El Niño’s lingering impact continued to stoke forecasts of tighter output. In Indonesia, the world’s top producer, the B50 biodiesel mandate will roll out July 1 after successful fuel tests, lifting domestic demand prospects. In the meantime, India’s imports are expected to exceed 600,000 tonnes in June, following May’s 549,356 tonnes, underscoring steady appetite from the largest buyer.

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