Malaysian palm oil futures jumped more than 3% to above MYR 4,650 per tonne, breaking a recent losing streak as a weaker ringgit and stronger crude oil prices enhanced the commodity’s competitiveness. Sentiment was further supported by gains in rival edible oils on China’s Dalian exchange as trading resumed after the Golden Week holiday.
In India, buyers booked around 150,000 tonnes of palm oil within three days, with refiners increasingly turning to palm amid tight sunflower oil supplies ahead of November’s festive-season demand.
Nonetheless, traders remained cautious ahead of fresh data from the Malaysian Palm Oil Board. Reuters projected that September inventories would reach a record high, surpassing the peak set in 2018, as production continued to outstrip lacklustre exports. Cargo surveyors estimated that shipments fell by 17.1%–28.8% month-on-month.
In the European Union, palm oil imports for the 2026/27 season declined 18% year-on-year to 0.71 million tonnes. Meanwhile, in Indonesia, nearly 260,000 hectares of reclaimed land were transferred to the Forestry Ministry, with more than half earmarked for management by Agrinas Palma Nusantara, a move that could bolster long-term supply.