22.08.202505:12:07UTC+00Palm Oil Set for Third Straight Weekly Rise

Malaysian palm oil futures have stabilized near MYR 4,500 per tonne following three consecutive sessions of decline. This stabilization is attributed to a weaker ringgit and positive performances in competing edible oil markets, such as those in Dalian and Chicago. Market sentiment has been further buoyed by strong export forecasts, highlighted by cargo surveyor reports indicating a 13.6% to 17% increase in Malaysian palm oil shipments between August 1–20 compared to July figures. In India, a key market, palm oil imports in July surged by 16% from June, reaching 301,000 tonnes—the highest level in nine months—despite Malaysia's inventories hitting a 19-month peak of 2.11 million tonnes. The Malaysian Palm Oil Council anticipates robust demand from India in September, as importers prepare for the Diwali festivals. Across the Atlantic, traders in the U.S. remain cautious amid uncertainty surrounding biofuel waivers for small refiners, with the Trump administration's decision anticipated as early as Friday, whilst a verdict on obligations for larger refiners has been postponed. Over the week, contracts are poised for a third consecutive gain, currently up approximately 0.5%.