Malaysian palm oil futures edged up on the first trading day of December, hovering near MYR 4,120 per tonne and aiming for a fourth session of gains, supported by firmer edible oils on the Dalian exchange. Supply concerns also lent support, as MPOB data showed output rose 3.2% in November 1–20, a sharp slowdown from October’s 7%–10% gain. In India, the top buyer, palm oil imports in 2025/26 are projected to surge to 9.3 million tonnes from 7.58 million tonnes, the lowest in five years. However, weak exports capped gains, with Intertek Testing Services noting a 19.7% mom drop in November shipments. In key buyer China, the economy continued to weaken in November, with both manufacturing and services falling, according to official data. Meanwhile, Malaysia’s commodities minister said a near 29% drop in exports to China in the first ten months of 2025. In Indonesia, the largest supplier, authorities set December crude palm oil reference price at USD 926.14 per tonne, down from USD 963.75.
