21/10/2026 (Ofi Magazine) - With disruptions in sunflower oil supplies from the Black Sea region leading to expectations that India would turn to alternative oils, palm oil prices saw their sharpest increase in seven months, Bloomberg reported.

Since the beginning of the year, palm oil prices had increased by 15% and, on the day of the 8 October report, December palm oil prices at Bursa Malaysia Derivatives was trading at MYR4,666 (US$ 1,142)/tonne.

“There is an expectation that Indian buyers will turn to palm oil as they struggle to supply sunflower oil from the Black Sea,” Budiman Suwardi, head of treasury and markets at Prime EcoHarvest Commodities, said in the Bloomberg report.

On 7 October, Oil World executive director Thomas Mielke told the Malaysian Palm Oil Forum in Kuala Lumpur, that total sunflower oil shipments from Russia and Ukraine could be 1M tonnes short in the October-December period due to the ongoing conflict between the two countries.

According to Mielke, this could drive demand towards palm oil and other edible oils.

At the same event, Joe Davis, commodity sales director at Futures International, also said the interruption of sunflower oil supplies from the Black Sea would lead importers, such as India, to alternative sources, which could include Australian and Canadian canola.

According to Bloomberg data, the price premium of soyabean oil over palm oil was approximately US$345/tonne compared to the average premium of US$287/tonne the last year.

https://www.ofimagazine.com/news/sharpest-rise-in-palm-oil-price-in-seven-months