Malaysian palm oil futures dipped below MYR 4,215 per tonne on Thursday, erasing the modest gains seen in the previous session. This downturn was influenced by declines in the Dalian palm oil market and weaker competing oils in Chicago. Market participants remained cautious, anticipating the Malaysian Palm Oil Board’s monthly report set for release on February 10. However, the decline was somewhat mitigated by a weaker ringgit. As for exports, cargo surveyors observed a month-on-month increase of 14.9% to 17.9% in January palm oil shipments. Demand from India, a major buyer, significantly strengthened, with imports surging by 51% to reach a four-month peak in January. This spike was largely due to palm oil's substantial discount compared to soyoil, prompting refiners to boost their purchases. On another note, Indonesia, the leading global producer, reported a remarkable 102.23% export surge from December, contributing to a 9.1% year-on-year increase in total shipments for 2025. Moreover, Reuters projected that Malaysia’s palm oil stockpiles likely marked the end of a 10-month rise in January, as strong exports aligned with a seasonal production slowdown.