Malaysian palm oil futures were little changed on Tuesday, hovering around MYR 4,010 per tonne after gaining in the prior session. Strength in rival edible oils from Dalian and Chicago was offset by a firmer ringgit and signs of softer demand from India, the top buyer. India’s palm oil imports fell to an eight-month low in December, pressured by weaker winter consumption and increased purchases of competing oils. Traders turned attention to upcoming December palm oil data and important economic releases in China later this week, including CPI and PPI, given China’s role as a key palm oil consumer. A Reuters forecast suggested Malaysia’s palm oil inventories likely reached their highest in nearly seven years in December, underscoring demand that has yet to fully recover, though expectations are improving ahead of the Lunar New Year and the Ramadan fasting month. Geopolitical risks remained in focus, with markets weighing potential fallout from U.S. military action in Venezuela.
