Due to lower export estimates, Malaysian palm oil futures fell 1.5% to below MYR 4,150 per tonne for the second consecutive session.
Shipments of Malaysian palm oil products fell between 18.2% and 23% from January 1 to 20, with unfavorable currency dynamics and reduced demand in India contributing to the pressure.
Global policy uncertainties, including fears of a 10% tariff on Chinese imports by the US, also weighed on prices. However, bets on increased demand ahead of the Lunar New Year and the fasting month in March helped limit losses.
China’s suspension of imports from five Brazilian firms could tighten global soybean oil supplies, potentially increasing palm oil demand.
