Malaysian palm oil futures slipped for a second session on Wednesday, hovering below MYR 4,550 per tonne, pressured by a stronger ringgit and weakness in rival edible oils on Dalian and Chicago exchanges. Meanwhile, industry veteran Dorab Mistry cautioned that global edible oil markets remain volatile, with Middle East energy disruptions boosting biodiesel demand expectations but subdued buying from key importers clouding the outlook. Geopolitical risks, including a possible delay of the Trump–Xi summit later this month, also weighed. Still, losses were capped by signs of firm demand, as cargo surveyors noted March 1–15 shipments surged 43.5%–56.9% mom on Eid-related buying. Meanwhile, palm oil imports by India, the main buyer, rose 11% in February to hit a six-month high, aided by discounts to rival oils. Meanwhile, top producer Indonesia is considering new commodity taxes, including on palm oil, to keep its budget deficit within 3% of GDP, a step that may constrain global supply.
