Malaysian palm oil futures hovered above MYR 4,060 per tonne on Friday, extending gains for a fourth straight session as trade resumed after the Christmas break. Prices drew support from stronger rival edible oils on the Dalian exchange and firmer demand prospects from top buyer India, where November imports rose about 5% from October amid more attractive pricing. The contract is set to finish the week up around 4%, rebounding after two weeks of losses. The recovery was fueled by bargain-hunting after prices hit a 27-week low and briefly slipped below the psychological MYR 4,000 mark. Broader energy market strength also lent support, with crude oil heading for a weekly gain on persistent geopolitical risks, enhancing palm oil’s appeal as a biofuel feedstock. Still, upside was capped by mixed export signals: Intertek Testing Services noted shipments rose 2.4% mom in December 1–20, while AmSpec Agri Malaysia reported a 0.87% decline, underscoring uncertainty over near-term momentum.
