17.09.202504:03:58UTC+00Palm Oil Rises Above MYR 4,450

Malaysian palm oil futures increased by nearly 1%, exceeding MYR 4,450 per tonne, following the resumption of trading after the holidays on Monday and Tuesday. This rise reversed a slight decline from the previous session, driven by stronger edible oil markets in both Dalian and Chicago. Additionally, there were signs of increased exports, with cargo surveyor data indicating that Malaysian palm oil exports from September 1 to 15 had grown by 2.6% to 742,648 tonnes compared to the same period in August. In India, a key purchaser, imports surged by 15.8% in August from July levels, reaching 990,528 tonnes—the highest in over a year. Competitive pricing, particularly against soyoil, motivated refiners to increase purchases in preparation for the mid-October festive season, as noted by the Solvent Extractors’ Association of India. The association further anticipates imports will remain above 800,000 tonnes in September. Nonetheless, a stronger ringgit limited further increases, and traders maintained a cautious approach during the shortened trading week. Additionally, industry data revealed that end-August stocks rose by 4.2% from July, reaching 2.2 million tonnes.