FX.co ★ Palm Oil Poised for Second Straight Weekly Losses

Malaysian palm oil futures displayed minimal movement, stabilizing around MYR 4,420 per tonne, following gains in the previous two trading sessions. Traders closely examined the export forecasts for the March 1–20 period, as data from cargo surveyors indicated a decline in Malaysia's palm oil exports, ranging between 5.0% and 14.2% compared to the corresponding period in February. Concurrently, the Malaysian Palm Oil Board confirmed that the crude palm oil export tax for April would remain at 10%, although the reference price was adjusted upwards. In a separate statement, the Malaysian Palm Oil Council anticipated prices to fluctuate between MYR 4,400 and MYR 4,600 throughout March. For the week, the futures contract appears to be heading toward a second consecutive weekly decline, currently down nearly 3.5%. This decline is largely attributed to concerns about the repercussions of increasing U.S. tariffs under the Trump administration on global markets, including the palm oil sector. Additionally, there remains uncertainty regarding the timing and scale of China's, a principal buyer, latest stimulus initiative to spur consumption.