Palm Oil Rebounds After Holiday Break

Malaysian palm oil futures rose more than 1% to near MYR 4,600 per tonne, bouncing back from subdued trade as markets reopened after a long holiday. Support came from a weaker ringgit, firmer Chicago soyoil, and elevated crude oil prices amid stalled U.S.–Iran talks that reinforced biodiesel demand prospects. In top buyer India, palm oil purchases edged higher in May from April’s four-month low but remained below typical levels. Meanwhile, Indonesia, the world’s largest producer, exported 7.72 million tonnes of crude and refined palm oil during the first four months of 2026, up 20.4% from a year earlier, according to official data. However, gains were limited by weakness in edible oils traded on China’s Dalian exchange. Concerns over soft export demand also persisted, with cargo surveyors reporting that Malaysian palm oil shipments during May 1–25 fell between 14.5% and 18.0% from April levels, partly reflecting the absence of festive buying demand.
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