[Lead] Recently, the palm oil market price has been on the rise. In Rizhao, the market price of 52-degree palm oil stood at 9,383 yuan/ton, up 223 yuan/ton from the previous month, an increase of 2.44%. The domestic market price of 24-degree palm oil also rose in tandem. This round of price increases in the palm oil market is primarily driven by volatility in the international palm oil market and domestic inventory destocking. Among international factors, favorable developments such as Indonesia's export controls and the upgrading of Southeast Asian biodiesel policies are the main reasons behind the rise in domestic spot prices.

I. Tightening External Market Supply

The Indonesian government has established a state-owned export agency to centrally manage palm oil exports. Following the announcement, Malaysian palm oil futures surged by 2.18%, triggering market expectations of reduced export efficiency and tighter supply, directly pushing up palm oil market prices. During the period, the average FOB market price of palm olein in Malaysia was $1,180/ton, up 1.72%, while the average FOB market price of palm stearin was $1,137.5/ton, up 1.55%.