需求端缺乏支撑 棕榈油期货或延续偏弱态势

Group 1 - Malaysia has lowered its January crude palm oil reference price and reduced the export tax to 9.5% [1] - China's palm oil imports in November reached 330,000 tons, a year-on-year increase of 97.8%, while the cumulative import volume from January to November was 2.29 million tons, a year-on-year decrease of 7.6% [1] - Malaysia's palm oil export volume from December 1-15 is estimated at 435,882 tons, a 30.39% increase compared to 334,295 tons in the same period last month [1] Group 2 - Since mid-December, the palm oil market has shown a significant downward trend due to inventory pressure, weak exports, and macroeconomic factors [3] - Malaysia's palm oil inventory surged by 13% month-on-month to 2.84 million tons, the highest level in six and a half years, with expectations of further inventory accumulation increasing selling pressure [3] - Weak demand from the consumption side, including a significant reduction in India's vegetable oil imports in November and a sharp decrease in domestic palm oil transaction volumes, is contributing to the lack of support for demand [3] Group 3 - The overall palm oil market is expected to continue a weak trend due to external pressures from Southeast Asia, upcoming canola seed crushing, and disturbances from state soybean auctions and canola seed imports [4] - A recovery in overnight crude oil prices has eased market sentiment, but the palm oil sector is still anticipated to maintain a weak trajectory in the short term [4]