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China oils market daily: Strong January exports from Indonesia lead to overnight surge and pullback in DCE palm oil futures

Source: Mysteel Mar 03, 2026 09:46
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Plant Oil Soybean Demand Price Supply
Recently, Malaysian palm oil has faced weak upward momentum due to sluggish export performance in February. On the Dalian Commodity Exchange, palm oil prices surged sharply, influenced by Indonesia's seizure of illegal palm oil plantations and the rise in international crude oil prices. This has created a pattern of external weakness versus domestic strength. Domestic import profits have improved substantially, though near-term supply remains ample with high inventory levels. As such, close attention should be paid to forward-month cargo purchases dynamics. In the short term, palm oil prices are expected to trend with a volatile but firm bias.

 

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