油脂油料早报-20260204

Report Industry Investment Rating - Not provided in the report Core Viewpoints - The US Treasury issued proposed rules for biofuel producers to obtain tax credits, which was welcomed by the biofuel trade organization but some issues remain unanswered [1] - Malaysian palm oil export data from different institutions showed different trends in January 2026, with production also showing a decline [1] - India's palm oil imports in January reached a four - month high, with a significant increase, while soybean oil and sunflower oil imports decreased [1] Summary by Related Content Biofuel Policy - The US Treasury released proposed rules on Tuesday to regulate how biofuel producers can get a $1 - per - gallon tax credit for low - carbon transportation fuels, including aviation fuel. The "45Z" plan under the Inflation Reduction Act was revised in the Great America Act last year, allowing the use of Canadian and Mexican raw materials and adjusting the calculation method of land - use intensity. The plan was welcomed by the biofuel trade organization, but some questions remained unanswered [1] Malaysian Palm Oil - SGS data showed that Malaysia's palm oil exports in January 2026 were 944,885 tons, a 5.58% decrease from December 2025. AmSpec data showed an increase of 14.89% to 1,375,718 tons. SPPOMA data indicated a 13.08% decline in production, a 13.78% drop in fresh fruit bunch yield, and a 0.16% increase in oil extraction rate [1] Indian Vegetable Oil Imports - Indian palm oil imports in January soared 51% to 766,000 tons, a four - month high, while soybean oil imports plunged 45% to 280,000 tons (the lowest since June 2024) and sunflower oil imports dropped 23% to 269,000 tons. Total edible vegetable oil imports decreased 3.5% to 1.32 million tons. It is expected that palm oil imports in February will further increase [1] Price and Basis Data - Spot prices of various oilseeds and oils from January 28 - February 3, 2026, in different regions were provided, including prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu [2] - Multiple basis charts were presented, including soybean meal (January, September, May basis in Jiangsu), rapeseed meal (January, May, September basis in Guangdong), soybean oil (January, September, May basis in Zhangjiagang), palm oil (January, May, September basis in Guangzhou), and rapeseed oil (January, May, September basis in East China) [3][4][5] Price Spread Data - Various seasonal price spread charts were provided, including spreads between different contracts of soybean meal, rapeseed meal, soybean oil, palm oil, rapeseed oil, as well as spreads between different types of oilseeds and oils such as soybean - rapeseed meal, soybean - palm oil, and rapeseed - soybean oil [4]