Palm Oil Prices Edge Higher as Malaysia Recovers, Indonesia Nears Final Tariff Deal with US

Palm oil prices in Malaysia inched up on Tuesday, with the benchmark contract rising 0.19 percent to 4,159 ringgit (MYR) per tonne. The modest gain follows weeks of volatility, with prices still down 7.86 percent over the past month and 15.5 percent lower than a year earlier, according to CFD market data. Prices hovered above 4,150 ringgit per tonne on Monday, supported by a weaker ringgit and firmer performance in China’s Dalian soyoil and palm oil futures. The rebound helped the commodity recover from a four-month low. Still, analysts warned that concerns over Indonesia’s land-seizure policies and uncertainty surrounding its biodiesel mandate continue to cloud the market outlook. As of Oct. 1, the Indonesian government had reclaimed 3.4 million hectares of illegal palm oil plantations, with 1.5 million hectares officially handed over to the state-owned company Agrinas Palma Nusantara. The transfer, conducted in four stages by the government’s Plantation Land Task Force (Satgas ...