03.04.202604:18:45UTC+00Palm Oil Set for Fifth Weekly Gain

Malaysian palm oil futures inched higher to around MYR 4,800 per tonne, on track for a fifth consecutive weekly gain of about 4%. The market drew support from stronger edible oil prices on the Dalian exchange and from firmer crude oil, after U.S. President Donald Trump pledged continued strikes on Iran, bolstering expectations for biodiesel-related demand. Export strength provided additional near-term support, with cargo surveyors estimating that shipments jumped by 44%–57% from February. In Indonesia, the world’s largest producer, official data showed palm oil exports posted double-digit growth in February as the sector gears up for the higher B50 biodiesel mandate in July. Upside, however, was limited by softer demand from top buyer India, where March palm oil imports dropped 19% to a three-month low as refiners postponed purchases in response to high prices. Market participants also turned cautious ahead of key Chinese data releases, with CPI and PPI figures due next week, highlighting lingering uncertainty in one of the commodity’s most important destination markets.