25.08.202505:14:49UTC+00Palm Oil Trades Lower to Kick Off the Week

Malaysian palm oil futures fell to approximately MYR 4,510 per tonne, pulling back from the gains seen in the previous session. This decline was influenced by a strengthening ringgit and weaker Chicago soyoil, which affected market sentiment. Additionally, traders remained cautious as they awaited export estimates from cargo surveyors for August 1–25, expected to be released later today. However, the drop in prices was moderated by the anticipation of increased demand from India, the leading buyer, due to the upcoming Diwali festivities in mid-October. Notably, Indian imports rose by 16% in July from June to 301,000 tonnes, marking the highest level in nine months, even though Malaysian stockpiles reached a 19-month peak at 2.11 million tonnes. In parallel developments, Indonesia, the largest producer, has called on the European Union to remove countervailing duties on biodiesel imports. This request follows the World Trade Organization's support for Jakarta on several major issues in its complaint, potentially boosting palm oil–based biodiesel exports to Europe should these duties be reversed.