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Malaysian palm oil futures declined for a fourth straight session on Friday and were set to post their third weekly drop as sluggish demand from top buyer India and losses in Dalian vegetable oils pressured prices. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange lost 42 ringgit, or 1%,

Malaysian palm oil futures posted a weekly drop despite ending higher on Friday amid sluggish demand from top buyer India and losses in Dalian vegetable oils. The benchmark palm oil contract FCPO1! for April delivery on the Bursa Malaysia Derivatives Exchange gained 7 ringgit, or 0.17%, to 4,193 ringgit a metric ton at closing. Malaysian palm oil futures settled higher on Friday on bargain buying as prices have reasonably corrected from recent highs and premium over soybean oil has erased, said Anilkumar Bagani, commodity research head at vegetable oil brokerage Sunvin Group. The contract fell to its lowest in more than three months earlier in the session. It lost 4.51% this week. “Lower imports by top buyer India are a major concern for the palm oil market, especially as competition intensifies from cheaper soyoil and rapeseed oil, which are attracting increasing demand,” a Mumbai-based dealer with a global trade house said. Palm oil imports by India, the world’s biggest importer

India's palm oil imports may fall to a nearly five-year low in January due to negative refining margins, as the tropical oil's higher price compared to competitors pushes buyers to purchase more competitive soybean oil, government and industry officials told Reuters. The reduction in palm oil imports by the world's largest oil buyer may put