JAKARTA: Malaysian palm oil futures extended losses to a second session on Tuesday as trading resumed after a long holiday weekend, pressured by declines in Dalian edible oils, but strong export data capped losses. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was down 16 ringgit, or 0.38percent, at 4,213 ringgit (USD1,072.01)a metric ton at closing.
The contract rose 4.42 percent in January, its first monthly gain in five months. “Today’s export figures and SPPOMA production data continue to show favourable trends, which helped cushion the downside. Late bargain buying emerged toward closing, narrowing earlier losses,” a Kuala Lumpur-based trader said, referring to December production data from the South Malaysia Palm Oil Association (SPOMMA) and surveyor data for December exports.
Exports of Malaysian palm oil products for January are expected to rise between 14.9percent and 17.9percent month-over-month, according to data from inspection company AmSpec Agri Malaysia and cargo surveyor Intertek Testing Services.
India’s palm oil imports surged 51percent in January to a four-month high, as the tropical oil’s discount to rival soyoil prompted refiners to ramp up purchases while cutting soyoil imports to a 19-month low, according to five dealers.
Indonesia exported 23.61 million metric tons of crude and refined palm oil in 2025, up 9.09percent from year-ago levels, the statistics bureau said on Monday. Dalian’s most-active soyoil contract was down 1.08percent, while its palm oil contract lost 0.26percent. Soyoil prices on the Chicago Board of Trade surged 2.33percent.
Chicago soybean futures climbed on Tuesday, recouping losses from the previous session, as traders grappled with teetering broader commodity markets and rebounding gold prices.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Palm oil may test support at 4,201 ringgit per metric ton, a break below may trigger a fall into the 4,115 ringgit to 4,158 ringgit range, Reuters technical analyst Wang Tao said.
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