Palm Oil Set for Second Straight Weekly Losses
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Malaysian palm oil futures fell below MYR 4,010 per tonne, marking a four-week low and a second consecutive weekly decline, down about 3.5%. This drop is attributed to weak demand from China, lower export estimates, and pressure from Indonesia's biodiesel mandate pause. However, demand from India remains strong, with January imports rising 51% month-on-month. Malaysia also increased its March crude palm oil reference price while keeping the export duty at 9%.
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