Palm oil remained stable after rising 1% on Monday, and traders weighed between strong demand in India and a sharp rise in Malaysian inventories. The day closed higher on Monday, ending seven consecutive trading days of decline. When the market was closed at noon, the futures price was almost flat at 4,580 ringgit per ton. Palm oil has been under pressure in recent weeks due to higher-than-expected production and sluggish Malaysian exports, which indicate an imminent oversupply; although lower prices have attracted some major consumers to buy on dips. Anil Kumar Bagani, head of research at Sunvin Group in Mumbai, said that India's demand has rebounded due to India's reduction in import tariffs and the Black Sea conflict curbing the transportation of sunflower oil. He added, however, that Malaysian inventories continue to rise, which is still putting pressure on the market.

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