06.07.202603:16:11UTC+00Palm Oil Rebounds, Snaps Two-Week Slide

Malaysian palm oil futures climbed more than 1% to above MYR 4,500 per tonne, snapping a recent losing streak as a weaker ringgit and firmer edible oil prices on China’s Dalian exchange and the Chicago Board of Trade lifted sentiment. The market also saw bargain hunting after prices hit a two-week low last week.

Stronger export demand added support, with cargo surveyors estimating that shipments for July 1–5 rose between 10.6% and 11.1% from the same period in June. Even so, some traders remained cautious ahead of the Malaysian Palm Oil Board’s monthly report due later this week. Market participants are also watching China’s June CPI and PPI data for fresh signals on demand from one of the world’s largest buyers.

Separately, a Reuters poll indicated that Malaysian palm oil inventories likely reached a record high for June as production outpaced consumption. In India, the top importing country, palm oil purchases fell to a 14‑month low, pressured by weak demand and shrinking price discounts relative to competing vegetable oils. Meanwhile, in the broader commodities complex, crude oil prices eased as exports through the Strait of Hormuz resumed and normalized.