Palm Oil Eases on Firmer Ringgit, Weaker Edible Oils

Malaysian palm oil futures fell to near MYR 4,650 per tonne, reversing recent gains amid a stronger ringgit and weaker rival edible oils on the Dalian and Chicago exchanges. Meanwhile, crude oil prices eased as tanker traffic through the Middle East continued despite persistent regional tensions, reducing support for vegetable oil markets. Separately, European Union palm oil imports for the 2026/27 marketing year, which began in July, plunged by 39% yoy. Still, losses were capped by stronger exports, with cargo surveyors noting palm oil shipments for July 1–25 rose between 8.1% and 15.9% from the same period in June. Demand was also lifted by expectations that palm oil imports by top buyer India could increase between July and October ahead of the festive season. In Indonesia, the world’s largest producer, authorities have raised the 2026 palm oil-based biodiesel allocation to 16.75 million kilolitres to accommodate additional demand from the B50 mandate launched earlier this month.


