Malaysian palm oil futures climbed around 1% to slightly above MYR 4,000 per tonne on Thursday, up for a second straight session as bargain hunting continued after prices slid to a 5-1/2-month low earlier in the week. Sentiment was also lifted by a weaker ringgit and firmer Chicago soyoil, which improved palm oil’s relative competitiveness. Demand signals added to the upbeat tone, with November palm oil imports by top buyer India rising about 5% from October amid attractive prices. However, the contract was still down about 0.3% for the week, marking a second consecutive weekly decline, as concerns over export demand persisted. Cargo surveyors estimated Malaysian palm oil shipments for December 1–15 fell between 15.9% and 16.4% from the previous month. Meanwhile, Malaysia lowered its January 2026 crude palm oil reference price, reducing the export duty to 9.5%, according to a circular on the Malaysian Palm Oil Board website, a move that could help support exports in the coming months.
