Middle East Conflict Continues, Domestic Oil and Fat Prices Expected to Fluctuate in the Near Term

First, the ongoing conflicts in the Middle East continue to be complex and volatile, remaining an important short-term factor affecting domestic and international oilseed and oil prices. Second, Malaysia’s palm oil stockpiles in February declined less than expected, which is bearish for market prices; however, the significant increase in exports in early March limits the downside potential. Third, international crude oil prices remain high, with several organizations calling for increased blending ratios of bio-kerosene, and the U.S. bio-kerosene policy is expected to be announced by the end of March. Attention should be paid to the implementation of biofuel policies in various countries (National Grain and Oil Information Center).

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