On January 10, the main palm oil contract continued to rise in the afternoon and is now up nearly 2%.

Fu Bo, a senior researcher on agricultural products in Guotai Junan Futures, said that the monthly report released by MPOB shows that production and inventory are lower than market expectations, exports are higher than market expectations, consumption is much higher than expected, and the report is profitable. Based on the inventory of 1.583 million tons at the end of December 2021, even if Malay production begins to recover, it will be very difficult for Malaysian palm oil stocks to return to more than 2 million tons in the first quarter of 2022. The lack of inventory pressure will continue to support palm oil prices in producing areas. It is expected that palm oil prices in the first quarter will still be strong. Palm oil 05 is expected to hit the previous high of 9100PUE 9300, driven by the rising cost of long-term imports. In addition, at this stage, international oil crops are still trading South American soybean production, the overall trend of oil is also strong, so it is suggested that palm oil 05 bargain-seeking long thinking is the main idea.