Palm Oil Soars as Weaker Ringgit, India Demand Buoy Sentiment

2026-10-08 04:00 By Farida Husna 1 min. read

Malaysian palm oil futures surged over 3% to above MYR 4,650 per tonne, snapping recent declines as a weaker ringgit and firmer crude oil prices boosted competitiveness.

Gains in rival edible oils on China’s Dalian exchange also lifted sentiment as markets reopened after Golden Week.

In India, buyers secured about 150,000 tonnes in three days, with refiners turning to palm oil amid tight sunflower oil supplies ahead of November’s festive demand.

However, caution prevailed before Malaysian Palm Oil Board data, with Reuters forecasting September inventories to hit a record high, surpassing the 2018 peak, as output outpaced sluggish exports.

Cargo surveyors estimated shipments slipped 17.1%–28.8% mom.

Meanwhile, EU imports for the 2026/27 season dropped 18% yoy to 0.71 million tonnes.

In Indonesia, nearly 260,000 hectares of reclaimed land were handed to the Forestry Ministry, with more than half slated for management by Agrinas Palma Nusantara, potentially adding to long-term supply.



News Stream
Palm Oil Soars as Weaker Ringgit, India Demand Buoy Sentiment
Malaysian palm oil futures surged over 3% to above MYR 4,650 per tonne, snapping recent declines as a weaker ringgit and firmer crude oil prices boosted competitiveness. Gains in rival edible oils on China’s Dalian exchange also lifted sentiment as markets reopened after Golden Week. In India, buyers secured about 150,000 tonnes in three days, with refiners turning to palm oil amid tight sunflower oil supplies ahead of November’s festive demand. However, caution prevailed before Malaysian Palm Oil Board data, with Reuters forecasting September inventories to hit a record high, surpassing the 2018 peak, as output outpaced sluggish exports. Cargo surveyors estimated shipments slipped 17.1%–28.8% mom. Meanwhile, EU imports for the 2026/27 season dropped 18% yoy to 0.71 million tonnes. In Indonesia, nearly 260,000 hectares of reclaimed land were handed to the Forestry Ministry, with more than half slated for management by Agrinas Palma Nusantara, potentially adding to long-term supply.
2026-10-08
Palm Oil Extends Decline as Monthly Data Looms
Malaysian palm oil futures extended losses, hovering below MYR 4,550 per tonne as weaker Chicago soyoil weighed on sentiment. Caution also prevailed ahead of Malaysian Palm Oil Board monthly data, with stocks expected to peak this month. Sluggish demand added pressure, with cargo surveyors estimating a 17.1%-28.8% month-on-month drop in palm oil exports in September. European Union palm oil imports for the 2026/27 season, which began in July, also fell 18% year-on-year to 0.71 million tonnes. In Indonesia, the forestry task force handed nearly 260,000 hectares of reclaimed land to the Forestry Ministry, with more than half set to be managed by Agrinas Palma Nusantara, potentially adding to longer-term supply. Still, a softer ringgit and firmer crude oil prices amid Middle East supply constraints helped limit losses by supporting palm oil’s appeal as a biodiesel feedstock. Meanwhile, China's Dalian markets will resume activity on Thursday.
2026-10-07
Palm Oil Inches Up as Traders Await Monthly Data
Malaysian palm oil futures edged higher to near MYR 4,580 per tonne, extending gains after a rally snapped a recent slide. Support came from a weaker ringgit and firmer crude oil amid Middle East supply risks, lifting palm oil’s appeal as a biodiesel feedstock. Meanwhile, analyst Dorab Mistry sees prices holding between MYR 4,500–5,000 through December, capped by elevated inventories despite El Niño supply risks next year. In India, palm oil imports in the world’s largest importer are expected to stay steady in 2026/27 after a duty cut, with lower edible-oil tariffs ahead of the festive season offering near-term support. Gains were capped by weaker Chicago soyoils, while China’s Dalian exchange stayed shut for a holiday. Caution also grew ahead of Malaysian Palm Oil Board monthly data, with stocks seen peaking this month. In top grower Indonesia, Danantara Sumberdaya began testing a monitoring platform aimed at improving transparency in commodity exports, including palm oil.
2026-10-06