National Grain and Material Reserve Data Center: During the week of March 6th, there were 850,000 tons of palm oil in China, an increase of 30,000 tons on a weekly basis, an increase of 90,000 tons on a monthly basis, and a year-on-year increase of 430,000 tons.

Analysis: According to the data from the National Grain and Material Reserve Data Center, the domestic palm oil inventory reached 850,000 tons in the week of March 6th, an increase of 30000 tons (an increase of 3.7%) on a weekly basis, an increase of 90,000 tons (an increase of 11.8%) on a month on month basis, and a year-on-year increase of 430,000 tons (an increase of 102.4%). The sustained significant increase in inventory indicates sufficient market supply or weak demand, and the imbalance between supply and demand poses downward pressure on spot prices, which may lead to price pressure and decline.

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