Palm Oil Continues Upward Momentum

2026-08-05 03:47 By Farida Husna 1 min. read

Malaysian palm oil futures edged higher to around MYR 4,700 per tonne, extending recent gains as a weaker ringgit and firmer Dalian palm oil contracts lifted sentiment.

Stronger exports also lent support, with cargo surveyors noting shipments in July grew between 12.1% and 19.5% from June.

In India, the world's largest palm oil importer, edible oil imports climbed to a 10-month peak in July as refiners ramped up purchases of palm oil and soyoil to replenish inventories ahead of the festival season amid tightening domestic supplies.

In top supplier Indonesia, palm oil exports rose 2.5% yoy in H1 of 2026, highlighting resilient overseas demand.

However, gains were limited by weaker Chicago soyoil futures.

Traders also adopted a cautious stance ahead of July trade data in China, which could offer fresh insights into demand from one of the major palm oil consumers.

Meanwhile, Reuters forecast Malaysia's palm oil stocks are likely to hit a five-month high in July, tempering the upside.



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Palm Oil Continues Upward Momentum
Malaysian palm oil futures edged higher to around MYR 4,700 per tonne, extending recent gains as a weaker ringgit and firmer Dalian palm oil contracts lifted sentiment. Stronger exports also lent support, with cargo surveyors noting shipments in July grew between 12.1% and 19.5% from June. In India, the world's largest palm oil importer, edible oil imports climbed to a 10-month peak in July as refiners ramped up purchases of palm oil and soyoil to replenish inventories ahead of the festival season amid tightening domestic supplies. In top supplier Indonesia, palm oil exports rose 2.5% yoy in H1 of 2026, highlighting resilient overseas demand. However, gains were limited by weaker Chicago soyoil futures. Traders also adopted a cautious stance ahead of July trade data in China, which could offer fresh insights into demand from one of the major palm oil consumers. Meanwhile, Reuters forecast Malaysia's palm oil stocks are likely to hit a five-month high in July, tempering the upside.
2026-08-05
Palm Oil Rebounds on Firmer Edible Oils, Export Optimism
Malaysian palm oil futures strengthened, hovering above MYR 4,650 per tonne and halting recent losses amid weaker ringgit and firmer rival edible oils on the Dalian and Chicago exchanges. Prices also found support from a modest rise in crude oil prices, on lingering uncertainty over diplomatic efforts to resolve the U.S.-Iran conflict, which continued to underpin the biofuel outlook. Optimism over exports further lifted the market, with cargo surveyors noting Malaysian palm oil shipments in July rose between 12.1% and 19.5% from June. Support also came from top grower Indonesia, where exports of palm oil rose 2.5% yoy in H1 2026, while stronger purchases by the world's largest consumer India are expected between July and October ahead of the festive season. However, gains were capped by Reuters forecasts that inventories likely hit a five-month high in July. Caution also grew ahead of China's July trade data, which could provide fresh clues on demand from major palm oil consumers.
2026-08-04
Palm Oil Edges Up on Stronger Exports, India Demand Hopes
Malaysian palm oil futures inched higher to trade around MYR 4,650 per tonne, recovering from recent weakness amid a softer ringgit and firmer rival edible oils on the Dalian and Chicago exchanges. Sentiment was further lifted by stronger export prospects, with cargo surveyors estimating Malaysian palm oil shipments in July rose between 12.1% and 19.5% from the same period in June. Prices also drew support from higher biodiesel blending mandates in Indonesia and Malaysia, weather-related risks to Malaysia's 2027 output, and expectations of stronger imports by the world's largest importer, India, between July and October ahead of the festive season. In China, another key buyer, the central bank pledged to maintain ample liquidity after last week's Politburo meeting, raising hopes for firmer demand. However, gains remained limited as Dalian palm olein softened and crude oil prices eased after U.S. President Trump refrained from launching a fresh attack on Iran.
2026-08-03