Malaysian palm oil futures fell over 1% to below MYR 4,100 per tonne on Monday, reversing gains from the prior session amid the ringgit’s recent appreciation and weakness in Dalian and Chicago soyoil futures, as concerns grew over slow Chinese soybean purchases from the U.S. Additional pressure came from signs of rising Malaysian inventories, which Reuters projected could reach a 6-1/2-year high by end-November, alongside reduced Indonesian export taxes for December. Weak shipments also weighed on sentiment, with Intertek noting a 19.7% mom drop in November exports. Still, losses were limited by solid trade data from key buyer China, where exports rebounded, and imports accelerated. Demand prospects also improved in India after refiners reportedly cancelled about 70,000 tons of crude soyoil for December–January delivery due to higher global prices and a weaker rupee, making palm oil more competitive. Seasonal buying ahead of Lunar New Year and Ramadan 2026 provided further support.
