Malaysian palm oil futures rose for a third straight session on Thursday, hovering near MYR 4,200 per tonne and reaching a seven-week peak. Strength in edible oils on the Dalian and Chicago markets boosted sentiment, alongside bets of firmer demand ahead of the Lunar New Year and Ramadan in February. Supply concerns also lifted appetite, with January output projected to fall 15%–17% due to seasonal factors. On the export front, cargo surveyors noted shipments during January 1–20 grew 8.6%–11.4% from the prior month, reinforcing signs of improving demand. Meantime, longer-term supply risks were underscored by tighter oversight of forest exploitation in top supplier Indonesia. Globally, sentiment improved after U.S. President Trump’s remarks eased fears of a U.S.–Europe trade clash. Separately, the Malaysian Palm Oil Council expects prices to trade between MYR 4,000 and 4,300 in February. Gains remained capped by a stronger ringgit and Indonesia’s cancellation of the B50 biodiesel plan.
