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Malaysian palm oil futures rose 19.47% in March, their biggest monthly gain since April 2022, closing at 4,829 ringgit per ton. Gains were driven by short covering and strong March export data, which rose 44-57% month-on-month, while Brent headed for its largest monthly gain amid the Iran war.
Strong export demand and biodiesel appeal from higher crude tighten palm supplies and lift vegetable oil prices. A weaker ringgit partly offsets this for foreign buyers.
brecorder.comReutersMar 31, 2026brecorder.comReutersMar 31, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
A record monthly gain driven by short covering, strong March exports and surging Brent set the momentum and positioning that carried into the 1 April rise.
Record monthly gain from short covering, strong March exports and Iran-war crude strength; month-end flows and momentum plausibly contributed.
