Malaysian palm oil futures jumped around 1.0% to MYR 4,230 per tonne after falling in the prior two sessions, amid signs of robust export growth in March after Intertek testing services reported shipments of palm oil exports during 1-25 of the month climbed 13.8% from the same period in February. Also boosting sentiment were bets of strong demand as the upcoming Eid-al Fitr festival approaches. Simultaneously, crude oil prices rose following a notable drop last week. However, a decline in rival edible oils capped the rise, along with expectations of higher production. In India, the world’s largest palm oil importer, palm oil buying reportedly has decelerated as processing margins diminish while buyers awaited some price correction before entering the market. In top producer Indonesia, official data showed the country shipped 1.89 million metric tons of palm oil products in January and 1.01 million tons in February, below the monthly average in the past year.
