Malaysian palm oil futures fell over 1.5% to near MYR 4,600 per tonne, extending recent losses and hitting their lowest since mid-October. A stronger ringgit weighed on sentiment, alongside weaker Dalian palm oils and Chicago soyoils. Meanwhile, crude oil prices retreated amid renewed Middle East diplomatic efforts, reducing palm oil’s appeal as a biodiesel feedstock. Record-high Malaysian inventories added pressure, while caution grew ahead of China’s official PMI data in the key consuming market. Separately, EU palm oil imports for the 2026/27 season, which began in July, fell 21% yoy to 0.8 million tonnes. Still, expectations of tighter supplies next year due to El Niño-related weather risks and stronger domestic biodiesel demand in top producer Indonesia offered some support. Export demand also stayed firm, with cargo surveyors reporting a 46.9%–67.7% surge in shipments during October 1–25 from the same period in September, partly driven by pre-Diwali buying in top consumer India.