2026.02.0404:12:44UTC+00Palm Oil Steady as Monthly Data Nears

Malaysian palm oil futures remained relatively stable on Wednesday, hovering around MYR 4,215 per tonne after experiencing losses over the previous two sessions. The price movement was limited by a stronger ringgit and firmer prices for Chicago soyoil, which counterbalanced gains in Dalian vegetable oils. Market participants exercised caution as they awaited the Malaysian Palm Oil Board’s monthly report scheduled for release on February 10, anticipated to provide new market direction. The Malaysian Palm Oil Council forecasted that prices would fluctuate between MYR 4,000 and MYR 4,300 in February, indicating a balanced market environment. On the demand front, export activity offered support, with January shipments estimated to have increased between 14.9% and 17.9% compared to the previous month, according to cargo surveyors. In India, imports soared by 51% to reach a four-month peak, driven by palm oil’s significant price advantage over soyoil, which encouraged refiners to increase purchases. Concurrently, Indonesia, the leading global producer, experienced a 102.23% surge in exports from December, elevating total shipments for 2025 by 9.1% year-on-year to 23.61 million tonnes.