Malaysian palm oil futures hovered above MYR 4,100 per tonne on Tuesday, reversing modest losses from the prior session as strength in edible oils on the Dalian and Chicago exchanges buoyed sentiment. Prices were further supported by expectations that January output could decline 15%–17%, coinciding with seasonal demand ahead of the Lunar New Year and the start of Ramadan in February. Demand from India, the world’s largest palm oil buyer, is also seen rebounding after December imports fell to an eight-month low. However, gains were capped by a firmer ringgit and caution ahead of cargo surveyors’ estimates for shipments in the first 20 days of January. Analysts note that inventories remain elevated, adding pressure to the market. Meantime, Reuters projects 2026 CPO futures to average slightly below 2025 levels. In top producer Indonesia, the government’s decision to shelve the B50 biodiesel mandate while maintaining B40 further dampened demand expectations.

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