Malaysian palm oil futures rose around 1% to above MYR 4,100 per tonne on Thursday, rebounding from the prior session’s weakness amid gains in edible oils on the Dalian exchange. In the meantime, monthly data from the Malaysian Palm Oil Board showed November production shrank 5.3% to 1.94 million tonnes, supporting prices, while expectations of stronger seasonal demand ahead of the Lunar New Year and Ramadan added further optimism. Still, the contract was down about 0.8% so far this week, reversing gains from the previous two periods due to soft early export estimates. Cargo surveyors noted that December 1–10 shipments fell 10.3% to 15% from the same period in November. Meanwhile, end-November inventories jumped 13% from October to 2.84 million tonnes, the highest in 6-1/2 years. The stock build comes as Malaysia’s full-year output is on track to exceed 20 million tonnes for the first time, supported by improved labour availability, more efficient harvesting, and maturing plantations.
