Malaysian palm oil futures surged over 1.5% to above MYR 4,650 per tonne on Monday, marking gains for a fourth straight session amid firmer edible oils on the Dalian market. Strong export demand added support, with cargo surveyor Intertek noting shipments of Malaysian palm oil products for March 1–15 jumped 43.5% mom, driven by Ramadan and Eid buying. In India, imports rose 11% in February to a six-month high as wider discounts to rival oils encouraged refiners to boost purchases. Upbeat activity data in key buyer China further lifted sentiment. Attention also turned to Indonesia, the world’s largest producer, where authorities may impose additional taxes on commodities, including palm oil, to ease budget pressure from rising global oil prices. The move could raise export costs and potentially tighten global supply. Gains were capped, however, by a stronger ringgit and lingering uncertainty after reports that a planned U.S. President Trump–Xi meeting later this month could be delayed.
