Palm oil prices rise amid supply worries

Markets are expecting the current palm oil production surplus to shift to a deficit soon due to the impact of the "El Niño" phenomenon on crops in Indonesia and Malaysia, where dry spells and wildfires are causing a decline in output. Although Malaysian stocks have reached record levels and exports have doubled, long-term contracts are experiencing strong support, with the gap between near-term and medium-term prices rising to 420 ringgit per ton. This reflects increasing risks of drought and the effects of climate change on the global palm oil supply, which is expected to decrease by 2.5 million tons in the 2026-2027 season.

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