Cash markets were quiet on Monday March 25, with basis remaining at depressed levels for most US edible oils. Outright prices were flat to higher, however, as soybean oil futures in Chicago surged. Palm oil and refined palm product prices moved higher again, alongside ongoing gains in palm oil futures.

In Malaysia, the most actively traded palm oil futures contract (June) closed at 4,247 ringgit per tonne, up 59 ringgit per tonne, or 1.4%. The market reversed early losses and moved higher thanks to supportive Malaysian export data. Cargo surveyor figures for the first 25 days of March showed the country’s palm oil exports increased 21% from the same period in February. 

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