Malaysian palm oil futures recovered above MYR 4,850 per tonne after recently touching a one-week low, supported by a weaker ringgit, firmer Dalian soyoil prices and bargain buying. Developing El Niño conditions raised concerns about dryness and potential production cuts in Indonesia and Malaysia, while Indonesia’s planned full implementation of its B50 biodiesel mandate on Oct. 1 could increase domestic consumption and reduce export availability. Gains were limited by softer Chicago soyoil and crude oil prices, renewed hopes that the Strait of Hormuz could reopen, weak export data and ample supply. Cargo surveyors estimated Malaysian palm oil product exports from Aug. 1 to Aug. 25 fell between 11.4% and 20% from the same period in July, while Malaysian inventories reached a five-month high in July.