Malaysian palm oil futures hovered around MYR 4,480 per tonne after briefly slipping below MYR 4,440 in the prior session, tracking firmer prices on the Dalian exchange and gains in soyoil on Chicago markets. Strength in global oil prices also lent support, after renewed tensions between the U.S. and Iran, lifting energy markets. On the demand side, purchases from India, the world’s largest palm oil importer, are expected to recover after a 19% drop in March shipments. Locally, Malaysia’s palm-based biodiesel consumption is projected to rise by over 300,000 tonnes annually, according to the industry regulator, as the country aligns with Indonesia in advancing blending mandates to reduce reliance on imported fuels. However, gains were capped after Statistics Malaysia reported a modest fall in March exports of palm oil and related products, reflecting weak demand after the festive season. Separately, cargo surveyors noted April 1–15 palm oil shipments plunged over 34% mom.
