03.02.202604:52:50UTC+00Palm Oil Extends Losses

Malaysian palm oil futures declined for the second consecutive session on Tuesday, dipping below MYR 4,200 per tonne and approaching their lowest point in a week as markets resumed trading post-holiday. This drop was influenced by weaker Dalian edible oils and a stronger ringgit. Additionally, lackluster official PMI data from China, a major consumer, heightened concerns regarding short-term demand. Despite these challenges, a portion of the losses was mitigated by robust import data from major buyer India, where palm oil imports soared by 51% in January, reaching a four-month peak. This increase was driven by the substantial price advantage of palm oil over soyoil, prompting refiners to escalate their purchases. In Indonesia, the leading global producer, the statistics bureau reported crude and refined palm oil exports totaling 23.61 million metric tons in 2025, marking a 9.1% increase from the previous year. Concurrently, Malaysian palm oil product exports saw a rise of 17.9% in January, reaching 1.46 million metric tons from the figures in December, as reported by Intertek Testing Services.