Malaysian Investment Bank: Indian demand boosts palm oil as imports rise from July to October, supporting prices

(1) A Malaysian investment bank report indicates that palm oil prices rose during the Asian trading session, mainly driven by increased buying interest for edible oils from India. (2) Ahead of the holiday season peak demand, domestic supply tightening is expected to boost India’s edible oil imports from July to October, which will support Malaysian palm oil prices. (3) The institution projects that palm oil prices will face resistance at 4,807 ringgit per ton and find support at 4,650 ringgit per ton.