Palm oil prices closed lower on Tuesday

Kenanga Futures analysts note that prices followed the overnight decline in competing edible oils. However, strong demand for tropical oil exports, lower production forecasts, and a weakening ringgit limit downside risks. Kenanga Futures sees support for palm oil futures at 4,140 ringgit per tonne and resistance at 4,280 ringgit per tonne. The Bursa Malaysia derivatives contract for April delivery fell 16 ringgit to 4,213 ringgit ($1,070.10) per tonne.

Prices were shaken by a weakening Dalian vegetable oil market and a stronger ringgit.

Consumer sentiment was further weakened by weak official PMI data from China, a key consuming country, raising concerns about short-term demand.

However, the losses were partially offset by stronger import data from India, the largest buyer, where palm oil imports in January rose 51% to a four-month high, as a significant discount on this tropical oil compared to competing soybean oil prompted processors to increase purchases.

As for Indonesia, the world’s largest producer, the statistics bureau reported exports of 23.61 million metric tons of crude and refined palm oil in 2025, up 9.1% from the previous year.

Meanwhile, according to Intertek Testing Services, Malaysia’s palm oil exports in January increased 17.9% to 1.46 million metric tons compared to December.

Malaysia Palm oil exports, January 1-31 vs. December 1-31 (in tonnes)

SGS: 944,885 vs. 1,000,703 (-55,818 or -5.6%)

ITS: 1,463,069 vs. 1,240,587 (+222,482 or +17.93%)

AMSPEC: 1,375,718 vs. 1,197,434 (+178,284 or +14.89%)

Tags: prices, palm oil