Malaysian palm oil futures hovered above MYR 4,150 per tonne on Monday, picking up from two subdued sessions. A weaker ringgit and firmer Dalian’s most-active soyoil and palm oil contracts supported sentiment, helping prices recover from a four-month low. However, lingering uncertainties around land-seizure policies in top producer Indonesia and its biodiesel plan added caution, limiting the upside. Gains were further capped by a cargo surveyor’s estimates showing Malaysian palm oil product shipments for November 1–15 fell 15.5% from the previous month. On the supply side, industry data showed October output jumped 11.02% to the highest since August 2015, while stocks climbed to a 6-1/2-year peak. In India, the largest consumer, palm oil imports fell to a five-month low in October as buyers shifted to soybean oil amid rising palm prices. For the 2024/25 marketing year, India’s imports dropped 16% to 7.56 million tonnes, the lowest in five years.
