National Grain and Material Reserve Data Center: International palm oil CNF quotations have dropped significantly this week, and the import cost of palm oil in China has significantly decreased. On April 8th, the CNF import prices for 24 degree palm oil with shipping schedules in May and June were $1,208/ton and $1,218/ton, respectively, a decrease of $44-45/ton compared to the same period last week; Equivalent to a port tax payment cost of 9,920 RMB/ton and 9,980 RMB/ton in southern China, a decrease of 390-400 RMB/ton compared to the same period last week.

The international palm oil CNF quotation fell by 44-45 US dollars/ton this week, resulting in a decrease of 390-400 RMB/ton in China's import costs (with the South China port duty cost dropping to 9,920-9,980 RMB/ton). The cost reduction will be directly transmitted to the domestic spot market, increasing supply pressure and suppressing prices, which may stimulate an increase in import volume and exacerbate the risk of market surplus. This has a significant negative impact on the spot price of palm oil, and it is expected that short-term spot prices will come under pressure and decline.

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