01.10.202505:53:04UTC+00Palm Oil Kicks Off October Higher

Malaysian palm oil futures experienced a slight increase, reaching approximately MYR 4,370 per tonne. This uptick broke a three-session decline, aided by a weaker ringgit that bolstered prices. The Malaysian Palm Oil Board has forecasted a potential drop in stock levels to 1.7 million tonnes by the end of the year, due to a seasonal decrease in output and a rise in exports driven by festive demand. In India, the top edible oil importer globally, authorities have adjusted base import prices for certain commodities, including all vegetable oils, to align with elevated global benchmarks. Edible oil imports in India are anticipated to reach a record high of 17.1 million tonnes by 2025/26. Meanwhile, Indonesia, the leading producer, increased its crude palm oil reference price to USD 963.61 per tonne for October, compared to USD 954.71 in September. However, gains were tempered by widespread caution as the U.S. government entered a shutdown, suspending non-essential operations and casting uncertainty over the market. In China, the Dalian Exchange remains closed for the Golden Week holiday from October 1st to 8th, with trading set to recommence on October 9th.