2026.07.3003:38:44UTC+00Palm Oil Eases on Firmer Ringgit, Weaker Edible Oils

Malaysian palm oil futures fell toward MYR 4,650 per tonne, erasing recent gains amid a stronger ringgit and weakness in rival edible oils on the Dalian and Chicago exchanges. Crude oil prices also eased as tanker traffic through the Middle East continued despite ongoing regional tensions, curbing support for vegetable oil markets. Separately, European Union palm oil imports for the 2026/27 marketing year, which began in July, slumped 39% year-on-year. However, the downside was limited by stronger exports, with cargo surveyors reporting that palm oil shipments for July 1–25 were up between 8.1% and 15.9% from the same period in June. Demand was further underpinned by expectations that palm oil imports by top buyer India could rise between July and October ahead of the festive season. In Indonesia, the world’s largest producer, authorities raised the 2026 palm oil-based biodiesel allocation to 16.75 million kilolitres to meet additional demand stemming from the B50 mandate introduced earlier this month.