Palm Oil Retreats from 3-Week High in Commodity News 06/05/2026 Malaysian palm oil futures dipped around 1.5% to below MYR 4,700 per tonne, reversing gains from the prior two sessions as traders took profits after prices hit a three-week high. Sentiment was further pressured by a stronger ringgit, alongside weaker soyoil prices on Chicago markets. Meanwhile, crude oil prices fell further after U.S. President Trump signaled a possible peace deal with Iran, easing energy market concerns. Demand weakness also weighed, with April imports by top buyer India tumbling 27% mom to a one-year low as elevated prices narrowed palm oil’s discount to rivals. Separately, cargo surveyors estimated April 1–25 exports fell 15.7%–16.8% from March, reflecting typical post-festive softness. Still, losses were cushioned by firmer edible oils on the Dalian Exchange as trading resumed after holidays. Meanwhile, Malaysia will roll out its B15 biodiesel mandate from June 1, up from B10, a move aimed at curbing fossil fuel imports and bolstering domestic palm oil demand. Source: Trading Economics 2026-05-06 hellenicshippingnews... tweet Share