Palm Oil Rebounds, Eyes Modest Weekly Gains
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Malaysian palm oil futures increased by 1.5% to MYR 4,050 per tonne, ending a three-day decline as bargain hunters entered the market. Support came from stronger edible oils in Dalian and Chicago, alongside a 17.5%-18.6% rise in January 1-15 exports. Demand from India is expected to recover, but high Malaysian inventories limit gains. Indonesia will maintain its B40 biodiesel mandate and increase crude palm oil export levies to 12.5% from March 1. Contracts are projected to rise modestly by 0.3% this week.
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