Malaysian palm oil futures edged above MYR 4,150/tonne on Monday, rebounding after two quiet sessions. The uptick was fueled by a weaker ringgit and stronger Dalian soyoil and palm oil contracts, helping prices recover from a four-month low.
🔍 Key Market Drivers:
- 🇮🇩 Indonesia’s land-seizure policies and biodiesel plans are creating uncertainty, keeping gains in check.
- 📦 Malaysian shipments (Nov 1–15) dropped 15.5% month-on-month, according to cargo surveyors.
- 🏭 October production surged 11.02%, hitting its highest level since August 2015.
- 🛢️ Stockpiles climbed to a 6.5-year peak, adding supply-side pressure.
🌏 India’s Shift in Demand:
- 🇮🇳 Palm oil imports fell to a five-month low in October.
- 📉 For the 2024/25 marketing year, imports dropped 16% to 7.56 million tonnes—the lowest in five years.
- 🫘 Buyers are switching to soybean oil amid rising palm prices.
📊 The market remains volatile, with currency shifts, policy risks, and changing consumer behavior shaping the outlook.
