Malaysian palm oil futures fell about 1.5% to trade below MYR 4,450 per tonne, extending the decline that began in early May and bringing prices close to a one-month low. The market came under pressure from a stronger ringgit, weaker palm olein prices on the Dalian exchange, and softer soyoil prices in Chicago.
Bearish sentiment was further reinforced by China’s latest projections, which put soybean imports for the 2026/27 crop year at 95.5 million metric tons, a 7.6% year-on-year decline. The outlook points to softer demand across the broader oilseed complex as soymeal consumption eases in line with a shrinking sow herd.
Export estimates for the first ten days of May were mixed. AmSpec Agri Malaysia reported that shipments fell 10.8%, while cargo surveyor Intertek Testing Services estimated an 8.5% increase in exports.
Losses were partly contained by expectations of a demand recovery from top buyer India in May. India’s palm oil imports dropped 27% month-on-month in April to a one-year low, raising the likelihood of restocking in the coming month.
