FX.co ★ Palm Oil Rises After Three-Session Slide

Malaysian palm oil futures climbed to around MYR 4,070 per tonne on Wednesday, breaking a three-session losing streak, supported by strength in rival edible oils on the Dalian and Chicago exchanges. Demand from India, the world’s largest buyer, is also expected to recover in 2026 as price competitiveness improves, with imports potentially rising to 800,000 tonnes.

Crude oil prices hovered near multi-month highs amid heightened geopolitical tensions, providing additional support to palm oil. On the domestic front, the Malaysian Palm Oil Council expects prices to consolidate in March within the MYR 4,000–4,300 per tonne range.

Upside, however, remained capped by concerns over weak exports despite the ongoing Ramadan period and the upcoming Eid al-Fitr festival. Cargo surveyors estimated that shipments for February 1–20 were down between 8.9% and 12.6% from the previous month. Further downward pressure came from abundant global soybean supplies and increasing Chinese soybean oil exports.