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2026.06.1103:28:30UTC+00Palm Oil Extends Gains

Malaysian palm oil futures climbed for a second consecutive session, trading around MYR 4,550 per tonne, supported by a weaker ringgit and firmer prices for rival edible oils on the Dalian and Chicago exchanges. Sentiment was further buoyed by stronger exports, with cargo surveyors reporting that Malaysian palm oil shipments for June 1–10 rose by between 3.5% and 4.9% compared with the previous month.

Additional support came from the broader energy complex, as crude oil prices jumped on escalating concerns over potential supply disruptions in the Middle East, improving the outlook for biodiesel demand. Gains were limited, however, after industry data showed that Malaysia’s palm oil inventories increased for a second straight month in May.

On the demand side, purchases from top buyer India edged higher in May from April’s four-month low but remained below typical levels. In Indonesia, the world’s largest palm oil producer, the government introduced new technical regulations for key commodity exports, including palm oil, unsettling exporters and injecting fresh uncertainty into near-term trade flows.

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