2026.06.0303:49:53UTC+00Palm Oil Rebounds After Holiday Break

Malaysian palm oil futures climbed more than 1% to approach MYR 4,600 per tonne, rebounding from subdued trading as markets reopened after an extended holiday. Prices drew support from a weaker ringgit, firmer Chicago soyoil, and higher crude oil prices, with stalled U.S.–Iran negotiations bolstering the outlook for biodiesel demand.

In India, the world’s largest buyer, palm oil imports in May rose slightly from April’s four-month low but still lagged typical levels. At the same time, Indonesia, the world’s biggest producer, exported 7.72 million tonnes of crude and refined palm oil in the first four months of 2026, an increase of 20.4% from a year earlier, according to official data.

Upside momentum was capped by weakness in edible oils on China’s Dalian exchange. Concerns about soft export demand also lingered, as cargo surveyors reported that Malaysian palm oil shipments during May 1–25 were 14.5% to 18.0% lower than in April, partly due to the absence of festive-driven buying.