According to the National Grain and Material Reserve Data Center, the international palm oil CNF quotation has significantly increased this week, and the import cost of palm oil in China has significantly increased. On March 11th, the CNF import prices for 24 degree palm oil with shipping schedules in March and April were $1,187/ton and $1,178/ton, respectively, an increase of $65-81/ton compared to the same period last week; Equivalent to a port tax payment cost of 9,790 yuan/ton and 9,710 yuan/ton in southern China, an increase of 610-730 yuan/ton compared to the same period last week.

The international palm oil CNF quotation has significantly increased by 65-81 US dollars/ton this week, resulting in an increase of 610-730 yuan/ton in the cost of customs clearance at ports in southern China. This significant cost increase is due to supply constraints or demand growth factors, which will directly push up domestic palm oil spot prices and form favorable support.

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