Palm market has had a number of support factors in its favour including Indonesia’s high biodiesel mandate (B30) and weak overall palm oil output growth. While Malaysia faces de-growth, Indonesia’s output this year will expand marginally. Yet, ironically, none of the support factors have come to palm’s rescue. In particular, palm oil imports into two of the world’s largest consuming markets — China and India — have reduced considerably. With the adverse impact of African swine fever waning, China has reduced its palm oil purchases. Inflows into India have also reduced sharply, especially the refined variety, on which import restrictions have been placed. A significant factor that has pummeled palm oil is the collapse in crude oil prices. Brent is currently below $30 a barrel, a level unthinkable at the beginning of this year. A falling energy market has pulled the palm oil market down via the biodiesel route. The energy markets covering crude oil are expected to remain under pressure until the demand-supply fundamentals improve. This will continue to weigh heavily on the vegetable oil market in general and palm market in particular.