Malaysian palm oil futures hovered below MYR 4,950 per tonne as the recent rally ended under pressure from weaker edible oils on the Dalian and Chicago exchanges. Cargo surveyors estimated Malaysian shipments fell 6.5%–14.9% in August from the previous month, while inventories reached a five-month high in July. EU palm oil imports for the 2026/27 season, which began in July, plunged 21% year on year, highlighting weaker demand from a major market. Indian demand may also face pressure as refiners favour cheaper soyoil, although expectations for strong August vegetable oil imports could provide some support. A weaker ringgit helped cushion losses by making palm oil less expensive for overseas buyers. Firmer oil prices offered additional support amid concerns about supply disruptions, while rising El Niño risks increased worries about drier conditions and possible production losses across Southeast Asia.