FX.co ★ Palm Oil Pulls Back After Four-Session Winning Streak

Malaysian palm oil futures fell about 1% to below MYR 4,650 per tonne on Tuesday, ending a four‑session winning streak as a stronger ringgit and weaker edible oil prices on the Dalian exchange pressured the market. Sentiment was further unsettled after U.S. President Trump said he plans to delay a visit to China scheduled for later in March by about a month due to the war in Iran. Even so, losses were limited by a rally in crude oil driven by escalating geopolitical risks.

On the demand side, exports remained robust. Cargo surveyors reported that shipments of Malaysian palm oil products for March 1–15 jumped 43.5%–56.9% month‑on‑month, supported by Ramadan and Eid buying. In India, the world’s largest consumer, palm oil imports climbed 11% in February to a six‑month high as attractive discounts to rival vegetable oils encouraged refiners to step up purchases. Meanwhile, top producer Indonesia is reportedly considering new taxes on commodities, including palm oil, to help ease fiscal pressures from elevated global oil prices, a move that could further tighten global supply.