棕榈油价格区间震荡，高抛低吸

Report Industry Investment Rating - Not provided Core Viewpoints of the Report - Short-term palm oil prices will fluctuate within a range, and a high-sell and low-buy strategy should be maintained while keeping an eye on international biodiesel policies, high-frequency supply and demand data, and domestic inventory changes [2][14] Summary by Relevant Catalogs 1. Palm Oil Price Market Review - Reviewed the palm oil average price trend [4] 2. Supply Situation Analysis - Analyzed China's palm oil import data [6] 3. Demand Situation Analysis - Analyzed the palm oil transaction average price and trading volume statistics [8][9] 4. Cost and Profit Analysis - Analyzed the palm oil import cost and profit [11] 5. Market Outlook - In March, Indonesia's palm oil inventory decreased by 213,000 tons to 2 million tons compared to February, a 38% decrease from the same period last year. The total palm oil production in March increased by 7% year-on-year to 4.8 million tons, with crude palm oil (CPO) production increasing by 289,000 tons to 4.4 million tons and palm kernel oil (PKO) production increasing by 26,000 tons to 417,000 tons [13] - Malaysia's latest palm oil production growth rate decreased month-on-month, while its export growth rate increased month-on-month, which supports palm oil prices [13][14] - In the domestic market, the spot price spread between soybean oil and palm oil has been inverted. There is a shortage of spot goods in some markets with few quotes, and downstream buyers are making purchases based on rigid demand, resulting in a slight increase in trading volume [14]