Malaysian palm oil futures slipped 1.5% to below MYR 4,300 per tonne on Friday, ending a four-session rally as traders booked profits after prices hit a three-month high earlier in the week. Weakness in rival edible oils on the Dalian and Chicago exchanges added pressure, compounded by caution ahead of China’s January PMI release, given the country’s role as a key buyer. Still, futures remain on track for a fourth consecutive weekly gain, up about 1.8%, which would mark the first monthly rise in five months with gains nearing 5%. The broader uptrend is underpinned by stronger export demand, with January 1–25 shipments rising 7.97%–9.97% from December. Seasonal demand ahead of the Lunar New Year and Ramadan, coupled with expectations of lower January output due to adverse weather and harvesting patterns, also support prices. In India, the top buyer, refiners canceled soybean oil imports from South America amid a weaker rupee and higher global prices, boosting palm oil’s appeal.
