Customs data shows that from January to November 2025, a total of 6.27 million tons of edible vegetable oil were imported domestically, a year-on-year decrease of 3.0%, including 340,000 tons of soybean oil, an increase of 23.8% year-on-year; 2.29 million tons of palm oil, a decrease of 7.6%; 1.91 million tons of vegetable oil, an increase of 14.5%.

The import volume increased by 14.5% year-on-year, indicating strong domestic demand or tight supply, which is favorable for spot prices. The closing price of the main futures contract 2605 is 9,046 RMB/ton, up 40 RMB, but the position has decreased, indicating a cautious and optimistic market. The short-term price may be stable with some upward trend.

The import volume increased significantly by 23.8% year-on-year, reflecting strong market demand and supporting the upward trend of spot prices. The closing price of the main futures contract 2605 was 7,836 RMB/ton, an increase of 56 RMB, but the position decreased, indicating short-term benefits but the need to pay attention to subsequent supply and demand changes.

The year-on-year decrease of 7.6% in import volume suggests weak demand or intensified competition for substitutes, which puts downward pressure on spot prices and may dampen market purchasing enthusiasm.

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