Malaysian palm oil futures fell to around MYR 4,050 per tonne on Friday after a muted prior session, heading for their first weekly drop in three with losses of about 2.6%. The decline tracked weakness in rival edible oils on the Dalian market, while a stronger ringgit further dampened sentiment by making exports less competitive. Traders also became cautious as cargo surveyors noted that shipments from December 1 to 10 fell 10.3% to 15% from the same period in November. Meanwhile, end-November inventories rose 13% to 2.84 million tonnes, the highest in 6-1/2 years, reflecting strong full-year production that is on track to exceed 20 million tonnes for the first time due to better labour availability, more efficient harvesting, and output from maturing plantations. Still, losses were partly capped after industry regulator data showed November production fell 5.3% to 1.94 million tonnes, alongside expectations of stronger seasonal demand ahead of the upcoming Lunar New Year and Ramadan.

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