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IPC Index — Mexico MarketMalaysian palm oil futures rose for a third straight session on Friday, trading near MYR 4,080 per tonne and set for weekly gains of about 2%. Support came from a weaker ringgit, firmer rival edible oil markets in Dalian and Chicago markets, and growing expectations of stronger demand ahead of the Lunar New Year and Ramadan in February. In Indonesia, officials signaled a likely hike in palm oil export levies to fund the biodiesel mandate, a move that could curb export availability from the world’s top producer. In China, the key buyer, consumer prices rose further while producer price deflation eased, reinforcing signs that stimulus measures are beginning to lift demand. Still, gains were capped by caution ahead of December data from Malaysia’s industry regulator due Monday, with inventories expected to hit multi-year highs. Meanwhile, palm oil imports in top buyer India fell to an eight-month low in December on softer winter consumption and greater substitution toward competing oils.
