--- title: "VEGOILS-Palm falls more than 3% as crude oil slumps on US-Iran ceasefire" type: "News" locale: "en" url: "https://longbridge.com/en/news/281969368.md" datetime: "2026-04-08T03:54:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281969368.md) - [en](https://longbridge.com/en/news/281969368.md) - [zh-HK](https://longbridge.com/zh-HK/news/281969368.md) --- # VEGOILS-Palm falls more than 3% as crude oil slumps on US-Iran ceasefire KUALA LUMPUR, April 8 (Reuters) - Malaysian palm oil futures fell more than 3% on Wednesday as crude oil prices plunged following a U.S-Iran ceasefire deal, while weaker rival edible oils also weighed on the market. The benchmark palm oil contract (FCPOc3) for June delivery on the Bursa Malaysia Derivatives Exchange slid 147 ringgit, or 3.08%, to 4,618 ringgit a metric ton in early trade, extending losses to a third straight session. ### FUNDAMENTALS - Oil fell below $100 per barrel after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz. (O/R) - Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. - Dalian’s most-active soyoil contract (DBYcv1) fell 2.77%, while its palm oil contract (DCPcv1) shed 3.76%. Soyoil prices on the Chicago Board of Trade (BOcv1) were down 3.53%. - Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. - The ringgit (MYR=) , palm’s currency of trade, strengthened 0.94% against the dollar, making the commodity more expensive for buyers holding foreign currencies. - European Union soybean imports for the 2025⁄26 season that began in July had reached 9.74 million metric tons by April 5, down 9% from the same period a year earlier, while palm oil imports were down 4% at 2.19 million tons, European Commission data showed. - Malaysia plans to expand its palm-based B20 biodiesel programme nationwide in phases, taking into account the price sensitivity of palm oil relative to petroleum prices, the plantation and commodities minister said. - Palm oil may revisit its recent low of 4,713 ringgit per ton, the ending point of a wave a from 4,919 ringgit, Reuters technical analyst Wang Tao said. (TECH/C) ### MARKET NEWS - Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume. (MKTS/GLOB) ### DATA/EVENTS 0600 Germany Industrial Orders MM Feb 0600 Germany Manufacturing O/P Cur Price SA Feb 0600 Germany Consumer Goods SA Feb 0600 UK Halifax House Prices MM, YY Mar 0645 France Reserve Assets Total Mar 0830 UK S&P Global PMI: MSC Composite - Output Mar cpo ### Related Stocks - [EWM.US](https://longbridge.com/en/quote/EWM.US.md) ## Related News & Research - [VEGOILS-Palm tracks Dalian palm olein, Chicago soyoil lower](https://longbridge.com/en/news/284484787.md) - [VEGOILS-Palm falls as softer Dalian's palm olein triggers profit-taking](https://longbridge.com/en/news/283813914.md) - [ANTI-REGIME VOICES IN IRAN SIGNAL PROTESTS MAY RETURN — THIS TIME POTENTIALLY ARMED](https://longbridge.com/en/news/284620304.md) - [Palm oil posts first weekly gain in three weeks](https://longbridge.com/en/news/284071252.md) - [VEGOILS-Palm slips on weak demand, rising output](https://longbridge.com/en/news/284155323.md)