Malaysian palm oil futures slipped below MYR 4,180 per tonne on Wednesday, snapping a three-session winning streak amid weaker soyoil prices on the Dalian and Chicago markets. Profit-taking added pressure after contracts hit a near four-week high. Sentiment was further hit by softer export data, with cargo surveyors noting February shipments fell 21.5%–22.5% from January, despite seasonal demand ahead of Eid al-Fitr. In key buyer China, official data showed weaker February activity, partly due to an extended Spring Festival break. Still, losses were capped by a softer ringgit and firmer crude oil prices amid escalating Middle East tensions. In India, the world’s largest consumer, February palm oil imports rose 10.1% mom to a six-month high of 844,000 tonnes, supported by a wider discount to rival oils. Meanwhile, Reuters projected Malaysia’s palm oil stocks likely fell for a second straight month to a four-month low in February, as seasonal output declines outweighed slower exports.
