Malaysian palm oil futures slipped for a third consecutive session, hovering near MYR 3,980 per tonne, a near three-week low, pressured by a stronger ringgit and weakness in rival edible oils on the Dalian and Chicago markets. Sentiment was further weighed down by signs of softer exports, as cargo surveyors estimated shipments of Malaysian palm oil products for December 1–15 fell between 15.9% and 16.4% from a month earlier. On the supply side, end-November inventories climbed 13% to 2.84 million tonnes, the highest level in 6-1/2 years, reflecting robust full-year output that is on track to surpass 20 million tonnes for the first time. These bearish factors were partly offset by demand signals from top buyer India, where palm oil imports in November rose around 5% from October to 632,341 metric tonnes, as refiners capitalized on lower prices. Adding some support, industry regulator data released last week showed November crude palm oil production fell 5.3% mom to 1.94 million tonnes.
