Malaysian palm oil futures rose near 1% to above MYR 4,100 per tonne on Wednesday, keeping gains from the prior session as a weaker ringgit boosted export competitiveness and edible oil prices firmed on the Dalian and Chicago exchanges. Prices were further lifted by expectations of a 15%–17% drop in January output, in line with seasonal demand ahead of the Lunar New Year and Ramadan. In India, the top buyer, imports are set to rebound after plunging 20% in December to the lowest since April 2025, due to softer year-end demand and increased purchases of rival oils. Meantime, export data showed Malaysian shipments during January 1–20 grew 8.64%–11.4% from the prior month. The Malaysian Palm Oil Council projected February prices to hold between MYR 4,000 and MYR 4,300, helped by seasonal falls in output. Gains, however, were capped after Indonesia scrapped plans for a B50 biodiesel mandate this year, while crude oil prices fell sharply on stock build expectations and easing supply risks.

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