Report Industry Investment Rating - Not provided in the content Core Viewpoints - Malaysia's October 2025 crude palm oil production increased 12.31% month - on - month to 2.07 million tons, reaching an eight - year high. The 2025/26 annual production is estimated at 19.2 million tons, remaining unchanged from the previous forecast. The industry is entering a low - production cycle until early 2026 [1]. - Indonesia's 2025/26 annual palm oil production is expected to be 51 million tons, 4% higher than the previous forecast but lower than last year. The 2024/25 annual production was revised up to 53 million tons. However, due to structural challenges, production growth is expected to be negative [1]. - Short - term drought is expected to have a neutral impact on palm tree growth in both Malaysia and Indonesia, but concerns about drought in northern Sumatra may persist [1][2]. Summary by Relevant Catalogs Overnight Market Information - Malaysia's October 2025 crude palm oil production: 2.07 million tons, up 12.31% month - on - month. Malay Peninsula production increased 6.57%, Sabah 19.83%, and Sarawak 21.25%. The 2025/26 annual production forecast is 19.2 million tons (range: 18.7 - 19.7 million tons). The first 9 months of this year saw a 0.3% year - on - year increase, due to slow replanting and aging palm trees [1]. - Indonesia's 2025/26 annual palm oil production forecast is 51 million tons (range: 46 - 56 million tons), 4% higher than the previous forecast but lower than last year. The 2024/25 annual production was revised up to 53 million tons. The first 8 months of this year had a 13.1% year - on - year increase [1]. Spot Prices - Spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from October 30, 2025, to November 5, 2025, are presented in a table [4]. Other Information - Main producer precipitation, import soybean crushing profit, and grease import profit are mentioned but no detailed data provided [3]. - Grease basis, grease and oilseed price spread, and protein meal basis are mentioned but no detailed data provided [7][10][13]