04.11.202505:18:57UTC+00Palm Oil Emerges from 12-Week Low

Malaysian palm oil futures have experienced a rise, maintaining a position above MYR 4,100 per tonne after two consecutive days of declines. This rebound follows a 12-week low reached the previous day, aided by a weaker ringgit and robust performance in the competing Dalian soyoil market. October's rising exports further bolstered the market sentiment, particularly after cargo surveyors indicated a growth in Malaysia's palm oil exports between 4.3% and 5.2% during the month. However, gains faced limitations as data revealed that India's palm oil imports, the largest globally, fell to a five-month low in October. This decline brought total purchases in the 2024/25 marketing year to their lowest in five years, as buyers turned towards soyoil due to a surge in palm oil prices. Meanwhile, projections from Reuters suggested that Malaysia’s palm oil stocks likely increased by 3.5% in October, reaching 2.44 million metric tons, the highest since October 2023. In Indonesia, the leading global producer, official figures showed an 11.6% year-on-year rise in palm oil exports to 17.58 million tons from January to September, indicating sustained strength in global supply.