Malaysian palm oil futures hovered near MYR 4,850 per tonne on Tuesday, rebounding from prior weakness as a weaker ringgit and firmer edible oil prices in Dalian and Chicago lent support. Crude oil’s rally, fueled by U.S. President Trump’s escalated rhetoric against Iran, further lifted sentiment for biofuel-linked commodities. On the supply side, Indonesia, the top producer, posted double-digit export growth in February ahead of its July B50 biodiesel mandate.
Meanwhile, Thailand announced tighter crude palm oil export controls and regulated bottled oil prices from April 7. Cargo surveyors noted Malaysian shipments surged 44%–57% mom in March. Separately, Reuters forecast the steepest inventory draw in three years, cutting stockpiles to the lowest since July. Gains, however, were capped by caution ahead of official monthly data and China’s inflation release. Demand concerns also lingered after March imports fell 19% in top buyer India to a three-month low as high prices curbed buying.
