2026.04.2703:58:04UTC+00Palm Oil Trades Lower

Malaysian palm oil futures were trading just below MYR 4,600 per tonne after recent gains, pressured by a stronger ringgit and weakness in Dalian soyoil. On the export side, cargo surveyor Intertek Testing Services reported that shipments of Malaysian palm oil products for April 1–25 fell 15.7% from the same period in March, signalling softer post-festive demand. Downside pressure, however, was limited by a continued rise in crude oil prices, as stalled peace talks between the U.S. and Iran intensified supply concerns. Expectations of stronger demand from top buyer India also provided support, with imports anticipated to rebound after a 19% month-on-month drop in March. At the same time, Malaysia is advancing toward a higher biodiesel mandate, targeting B15 from the current B10, a shift that could absorb up to 1.5 million tonnes of palm oil annually and tighten supplies. Meanwhile, the Malaysian Palm Oil Council expects prices to remain above MYR 4,500 in the near term, underpinned by elevated energy costs and potential El Niño-related risks.