Malaysian palm oil futures firmed, trading above MYR 4,650 per tonne and snapping a recent losing streak, supported by a weaker ringgit and strength in rival edible oils on the Dalian and Chicago exchanges. Prices were further underpinned by a modest uptick in crude oil, amid persistent uncertainty over diplomatic efforts to resolve the U.S.-Iran conflict, which continued to bolster the biofuel outlook.
Sentiment was additionally lifted by export optimism. Cargo surveyors reported that Malaysian palm oil shipments in July rose between 12.1% and 19.5% from June. Support also came from top producer Indonesia, where palm oil exports increased 2.5% year-on-year in the first half of 2026, while stronger buying from the world’s largest consumer, India, is expected between July and October ahead of the festive season.
Upside, however, was limited by Reuters forecasts that Malaysian inventories likely climbed to a five-month high in July. Market participants also turned cautious ahead of China’s July trade data, which could offer fresh signals on demand from key palm oil-importing countries.
