National Grain and Material Reserve Data Center, March 5th: Firstly, the ongoing conflict in the Middle East has led to high international crude oil prices, supporting domestic and international oil prices. Secondly, the palm oil production in Malaysia decreased significantly in February, and inventory is expected to decline for the second consecutive month, reaching the lowest level in four months. The market is waiting for MPOB to release supply and demand data for February. Thirdly, in recent times, India has repeatedly cancelled soybean oil orders and turned to palm oil procurement, which is favorable for export demand from production areas.

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