Malaysian palm oil futures rose for a third consecutive session, hovering near MYR 4,600 per tonne, supported by a weaker ringgit and stronger edible oil prices on the Dalian and Chicago exchanges. On the demand front, purchases from leading buyer India are expected to recover after March shipments fell 19% month-on-month, indicating likely restocking ahead.
At the same time, Malaysia is moving toward a B15 biodiesel mandate from the current B10, with an interim step at B12. This policy shift is projected to absorb roughly 1–1.5 million tonnes of palm oil annually, tightening exportable supplies as Kuala Lumpur mirrors Jakarta’s strategy of expanding blending mandates to curb dependence on imported fuel.
Gains were limited, however, by weak export indications. Cargo surveyors reported that shipments for April 1–20 were down about 25.6%–25.8% compared with March, in part reflecting the absence of festive-driven demand. In China, another key consumer, authorities signaled that imports of major commodities—particularly soybeans—could fall this year, adding further pressure on overall edible oil demand.
