Malaysian palm oil futures jumped over 1.5% to near MYR 3,880 per tonne, rising for the first session in four amid strength in rival edible oils on the Dalian exchange. Meanwhile, domestic demand in key buyer China improved further, as highlighted by the third straight month of consumer inflation last month. In top buyer India, palm oil purchases soared 41% in April to a three-month peak. A further drop in crude oil prices capped the rise, along with growing caution ahead of monthly crop production data in the US and World Agricultural Supply and Demand Estimates reports. On the export side, shipments of Malaysian palm oil products for May 1-10 fell between 14.2 to 14.8% from the same period in April, according to Intertek Testing Services and AmSpec Agri Malaysia. Last week’s data from the industry regulator showed that at the end of April, the country’s exports of palm oil products shrank 6.97 from the prior month to 1.23 million tons.
