Malaysian palm oil futures experienced a second consecutive decline, reaching their lowest point in almost four weeks. The February delivery contract dropped 1.34% to 3,822 ringgit, influenced by the sluggish performance of competing vegetable oils and subdued demand. Despite positive indicators like strong November export performance and expectations of reduced palm oil inventories, prices are under pressure due to a lack of buying interest from key markets. Malaysian palm oil inventories were projected to decline for the first time since April, according to a Reuters survey. The market is closely watching for new leads and developments in related oils, as they compete for a share in the global market. The Malaysian ringgit's strength against the dollar further impacted palm oil's attractiveness for foreign currency holders. November's Malaysian palm oil product exports are estimated to increase between 2% and 11% from the previous month.