30.03.202603:48:13UTC+00Palm Oil Market Stays Buoyant to Start Week

Malaysian palm oil futures rose for a third consecutive session on Monday, with benchmark prices holding above MYR 4,650 per tonne. Sentiment was supported by a weaker ringgit, as well as strength in Dalian palm olein and Chicago soyoil markets.

Firm export demand added further momentum. Cargo surveyor data showed that shipments from March 1–25 jumped by 38–51% compared with February, driven by strong post-Eid buying. Supply-side concerns also underpinned prices, with top producer Indonesia speeding up the rollout of its B50 biodiesel mandate and considering higher export taxes for April. The recent rise in crude oil prices amid the Iran conflict provided additional support for vegetable oil markets.

Gains were limited, however, by softer demand from major buyer India. The country’s palm oil imports for March are forecast at 680,000 tonnes, down from 847,689 tonnes in February. Investor caution was further reinforced by India’s decision to extend the suspension of derivatives trading in key agricultural commodities, including crude palm oil, through March 2027.

Traders also remained wary ahead of the release of March PMI data from China, another key consumer, due later this week.