2026.03.1904:15:30UTC+00Palm Oil Rebounds, Weekly Loss Still Likely

Malaysian palm oil futures hovered around MYR 4,550 per tonne on Thursday, rebounding after two sessions of losses, supported by a weaker ringgit and firmer soyoil prices on the Dalian exchange. Export momentum also improved, with cargo surveyors reporting that shipments for March 1–15 jumped by 43.5%–56.9% month-on-month, driven by festive demand.

Purchases from India, the largest buyer, rose 11% in February to a six-month high, helped by palm oil’s price discount relative to competing vegetable oils. At the same time, Indonesia, the world’s top supplier, is considering new commodity taxes, including on palm oil, in an effort to keep its budget deficit below 3% of GDP—measures that could tighten global supply.

Despite the recent recovery, futures are still on track for a weekly loss of about 0.4%, giving back part of their earlier gains as rising cost pressures dampen sentiment. Supply chain disruptions and feedstock shortages linked to tensions in the Middle East have driven up raw material costs. Trading will be suspended on Friday for the Eid holiday and will resume on March 24.