Malaysian palm oil futures slipped below MYR 4,200 per tonne on Friday, ending a three-session rally as a firmer ringgit and profit-taking weighed after prices hit a seven-week top in the prior session. Sentiment was further dampened by weaker palm oil contracts on the Dalian exchange and lower soyoil prices in Chicago. Still, the market remains on track for a third weekly gain, up more than 2% so far, supported by expectations of stronger demand ahead of the Lunar New Year and Ramadan in February, alongside tighter near-term supply, with January output projected to fall 15%–17% due to seasonal factors. On the demand side, cargo surveyors reported January 1–20 shipments rising 8.6%–11.4% from the prior month, reinforcing signs of improving exports. Meanwhile, longer-term supply concerns persist due to stricter oversight of forest exploitation in Indonesia, the top supplier. Looking ahead, the Malaysian Palm Oil Council expects prices to trade in the MYR 4,000–4,300 range in February.

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