印尼财政部网站上的一份文件显示，12月23日起将对黄金产品的出口征收关税。根据文件，当政府设定的参考价格跌至每金衡盎司2800美元至3200美元之间时，将根据黄金产品的类型征收7.5%至12.5%的出口关税。当价格在3200美元以上时，关税将上调至10%至15%。🗒️黄金出口税的时点相对于之前的消息提前。今年的这轮黄金牛市推动印尼前9个月黄金出口额至16.4亿美元，已远超去年全年，来自新加坡、瑞士和香港的买家抢购黄金，而印尼国内投资者却反映难买到金条。 ...

Report Industry Investment Rating - Not provided in the report Core Viewpoints - The report presents a comprehensive overview of the agricultural and commodity markets, covering overnight and现货行情, important fundamental information, macro - economic news, fund flows, and arbitrage tracking. It shows the complex interplay of factors such as weather conditions, international and domestic supply - demand dynamics, and macro - economic policies affecting the prices and trading volumes of various agricultural products and commodities [1][2][5] Summary by Directory Overnight Quotes - The closing prices and percentage changes of various commodities such as Malaysian palm oil, Brent crude oil, US crude oil, US soybeans, US soybean meal, and US soybean oil are provided. Also, the latest prices and percentage changes of several currency exchange rates are given [1] Spot Quotes - Spot prices, basis, and basis changes of DCE palm oil, DCE soybean oil, and DCE soybean meal in different regions are presented. Import soybean quotes including CNF premiums and CNF prices from different origins are also provided [2] Important Fundamental Information Production Area Weather - In Brazil, the soil moisture decline in the south is expected to slow, and early December rainfall is likely to be below normal. In Argentina, the soybean - growing areas will turn dry after a front passed last weekend, and soil moisture decline will also slow due to lack of high - temperature weather [5] International Supply and Demand - Malaysia's palm oil exports in November are expected to decline by 19.7%. Indonesia will lower the reference price of crude palm oil in December, reducing the export tariff. Some Indonesian suppliers are delaying palm oil shipments to December. US soybean, soybean meal, and soybean oil export sales data show different trends. The use of US soybean oil for biofuel production increased in September. Brazil's 2025/26 soybean production is expected to reach a record high, but the overall yield potential in most areas may be lower than the previous year. The soybean planting progress in different regions of Brazil and Argentina is reported, along with the production forecasts of EU and Canada for various oilseeds. The Baltic Dry Bulk Freight Index reached a two - year high [7][8][11] Domestic Supply and Demand - On November 28, the trading volume of domestic edible oils increased, while the trading volume of soybean meal decreased. The actual soybean crushing volume of domestic oil mills in the 48th week was lower than expected, and the expected crushing volume in the 49th week will decline slightly. The pig - raising profit is in a loss state. The "Agricultural Product Wholesale Price 200 Index" and the "Vegetable Basket Product Wholesale Price Index" rose on November 28, and the prices of some agricultural products changed [17][18] Macro News International News - Foreign central banks increased their holdings of US Treasury bonds in the week ending November 26. Eurozone consumers slightly raised their short - term inflation expectations but kept long - term inflation expectations unchanged [21] Domestic News - On November 28, the US dollar/Chinese yuan exchange rate was adjusted upwards. The Chinese central bank conducted reverse repurchase operations and achieved a net withdrawal of funds. The manufacturing PMI in November was 49.2%, up 0.2 percentage points from the previous month [22] Fund Flows - On November 28, 2025, the futures market had a net inflow of 2.755 billion yuan. Commodity futures had a net inflow of 6.287 billion yuan, while stock index futures and treasury bond futures had net outflows [25] Arbitrage Tracking - Not provided in the report content

Report Information - Reported industry: Oil and fat [1] - Date: July 11, 2025 [2] - Researcher: Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, Liu Youran [3] Core Viewpoints - The MPOB report was slightly bearish as the unexpected decline in exports in June exceeded the decrease in production and the increase in domestic consumption, causing the palm oil inventory to rise for the fourth consecutive month. The market did not expect such a significant drop in exports, with a 10.52% month - on - month decline in June. However, due to Malaysia's reduction in export tariffs in July, exports may increase, and strong exports limit the market decline. The upward space for palm oil is limited, and short - selling opportunities near the resistance level are worth attention [8]. - The market is waiting to see if the visit of the Australian Prime Minister to China will involve changes in rapeseed trade policies. For soybean oil, the supply is abundant and it is the off - season for demand. The 09 spread between soybean oil and palm oil has dropped significantly to a technically oversold level and may recover [8]. Summary by Directory 1. Market Review and Operation Suggestions - Market prices: Dongguan rapeseed oil traders' quotes are Dongguan triple - pressed rapeseed oil 09 + 60 and first - pressed rapeseed oil 09 + 240. In the East China market, the basis price of first - grade soybean oil is spot basis 09 + 150, Y2509 + 220 from July to September, and Y2601 + 300 from October to January. In South China, the spot price of 24 - degree palm oil is P09 + 150 yuan/ton, with real - order negotiation [7]. - Oil and fat comments: The MPOB report showed that Malaysia's palm oil inventory at the end of June was 2.0306 million tons, an increase of 47,800 tons from May, a 2.41% month - on - month increase. The report was slightly bearish. Due to the reduction of export tariffs in July, exports may increase. AmSpec data showed a 12% month - on - month increase in palm oil exports from July 1 - 10. The upward space for palm oil is limited. The market is waiting for news on rapeseed trade policies. Soybean oil supply is loose, and the 09 spread between soybean oil and palm oil may recover [8]. 2. Industry News - Malaysia's palm oil production in June 2025 was 1.6923 million tons, a decrease of 79,300 tons from May, a 4.48% month - on - month decline. Imports were 70,000 tons, an increase of 1,000 tons from May, a 1.51% month - on - month increase. Exports were 1.2594 million tons, a decrease of 148,100 tons from May, a 10.52% month - on - month decline. The end - of - month inventory was 2.0306 million tons, an increase of 47,800 tons from May, a 2.41% month - on - month increase [9]. - South American crop expert Dr. Michael Cordonnier maintained the 2025 US soybean yield forecast at 51.5 bushels per acre. If the weather remains favorable, the yield may be further adjusted upwards [9]. 3. Data Overview - The report presents multiple charts including the spot price of East China's third - grade rapeseed oil, fourth - grade soybean oil, South China's 24 - degree palm oil, palm oil basis changes, soybean oil basis changes, rapeseed oil basis changes, P1 - 5 spread, P5 - 9 spread, P9 - 1 spread, US dollar to Malaysian ringgit exchange rate, and US dollar to RMB exchange rate, with data sources from Wind and the Research and Development Department of CCB Futures [11][13][22][24][29][30]