Malaysian palm oil futures rose for a second consecutive trading session on Tuesday, supported by firm prices in rival edible oils and crude oil markets.
The September contract on the Bursa Malaysia Derivatives Exchange climbed 26 ringgit, or 0.57%, to settle at 4,576 ringgit ($1,122.39) per metric ton.
The move reflects broader strength across the global edible oil complex, where soybean and rapeseed oils have also posted gains.
Traders are closely watching the interplay between vegetable oil demand and energy prices, as higher crude costs can boost interest in biodiesel production, thereby supporting palm oil demand.
This session’s advance follows a third straight day of gains reported earlier in the week, driven by positive export data from the region and sustained buying interest in Kuala Lumpur. The rally underscores the resilience of palm oil prices amid ongoing supply constraints and robust global demand for cooking oils and biofuels.
Market participants will monitor upcoming export shipment data from Malaysia and Indonesia for further direction.