印尼取消今年推进B50，盘面承压震荡

1. Report Industry Investment Rating - The investment rating for the industry is "Neutral" [3] 2. Core Viewpoints of the Report - The cancellation of the plan to increase the mandatory biodiesel blending ratio to 50% in Indonesia this year and the decision to maintain the current B40 plan are negative factors for palm oil demand, causing the market to trade under pressure and fluctuate [1][2] 3. Summary by Relevant Catalogs Futures Market - The closing price of the palm oil 2605 contract was 8,748.00 yuan/ton, a decrease of 30 yuan or -0.34% [1] - The closing price of the soybean oil 2605 contract was 8,000.00 yuan/ton, an increase of 14.00 yuan or +0.18% [1] - The closing price of the rapeseed oil 2605 contract was 8,949.00 yuan/ton, a decrease of 68.00 yuan or -0.75% [1] Spot Market - The spot price of palm oil in Guangdong was 8,730.00 yuan/ton, a decrease of 30.00 yuan or -0.34%, with a spot basis of P05 + -18.00, unchanged from the previous day [1] - The spot price of first - grade soybean oil in Tianjin was 8,400.00 yuan/ton, unchanged from the previous day, with a spot basis of Y05 + 400.00, a decrease of 14.00 yuan [1] - The spot price of fourth - grade rapeseed oil in Jiangsu was 9,750.00 yuan/ton, a decrease of 20.00 yuan or -0.20%, with a spot basis of OI05 + 801.00, an increase of 48.00 yuan [1] Market News - Indonesia has cancelled the plan to increase the mandatory biodiesel blending ratio to 50% this year and will maintain the current 40% palm - based fuel and 60% diesel blending ratio [2] - Indonesia will increase the export tax (levy) on crude palm oil (CPO) from 10% to 12.5% starting March 1st, and the export tax on refined products will also be increased by 2.5 percentage points [2] - The CNF quotation of international palm oil has risen this week, increasing the import cost of palm oil in China. On January 13, 2026, the CNF quotations for February and March shipments of 24 - degree palm oil were 1,063 US dollars/ton and 1,086 US dollars/ton, up 15 - 28 US dollars/ton from the same period last week [2] - The Malaysian Palm Oil Board expects palm oil production in 2026 to be between 19.5 million and 19.8 million tons, compared to 20.28 million tons in 2025, and the palm oil inventory in 2026 is expected to be 2 million tons, compared to 3.05 million tons in 2025 [2]