Malaysian palm oil futures fell over 1% to below MYR 4,500 per tonne, reversing gains from the prior session amid a stronger ringgit and weakness in Dalian edible oils. Meanwhile, the Chicago market was closed for a holiday. Broader energy markets also pressured sentiment, with crude oil prices slipping to two-week lows on optimism that the U.S. and Iran were moving closer to a peace deal. Weak exports further weighed on risk appetite, with cargo surveyors noting that palm oil shipments during May 1–20 dipped between 13.9% and 20.5% from April. In India, the world’s largest palm oil buyer, imports shrank 26% in April to a four-month low due to softer institutional demand and a narrowing price discount. Still, Losses were tempered by tighter exports in top grower Indonesia, set to phase in June–August ahead of full implementation in September, which could benefit Malaysia. Jakarta will also lift its biodiesel mandate to B50 in July, while Malaysia plans to raise blending to B15 in June.

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