Palm Oil Heads for Solid Weekly Gain as Indian Demand Supports

2026-10-09 04:48 By Farida Husna 1 min. read

Malaysian palm oil futures inched higher, hovering near MYR 4,670 per tonne after a strong rally, supported by firmer edible oils on the Dalian and Chicago markets and brisk Indian buying, with refiners securing about 150,000 tonnes in three days amid tight sunflower oil supplies ahead of November’s festive demand.

Traders also awaited Malaysia’s 2027 state budget for potential industry support and monthly data from the Malaysian Palm Oil Board for direction.

Gains were capped, however, by a stronger ringgit and softer crude oil after U.S.

President Trump said Washington would not attack Iran before next month’s U.S.

elections.

Meanwhile, Reuters projected inventories to hit a record high in September, topping the 2018 peak, as rising output outpaced sluggish exports.

Cargo surveyors estimated shipments plunged between 17.1%–28.8% mom, underscoring weak demand.

Despite headwinds, futures were on track for a weekly rise of near 3% so far, reversing weakness in the prior two periods.



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Palm Oil Heads for Solid Weekly Gain as Indian Demand Supports
Malaysian palm oil futures inched higher, hovering near MYR 4,670 per tonne after a strong rally, supported by firmer edible oils on the Dalian and Chicago markets and brisk Indian buying, with refiners securing about 150,000 tonnes in three days amid tight sunflower oil supplies ahead of November’s festive demand. Traders also awaited Malaysia’s 2027 state budget for potential industry support and monthly data from the Malaysian Palm Oil Board for direction. Gains were capped, however, by a stronger ringgit and softer crude oil after U.S. President Trump said Washington would not attack Iran before next month’s U.S. elections. Meanwhile, Reuters projected inventories to hit a record high in September, topping the 2018 peak, as rising output outpaced sluggish exports. Cargo surveyors estimated shipments plunged between 17.1%–28.8% mom, underscoring weak demand. Despite headwinds, futures were on track for a weekly rise of near 3% so far, reversing weakness in the prior two periods.
2026-10-09
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