Influencing factors of vegetable oil export

At present, vegetable oil futures prices continue to rise. In the short term, the driving factors are as follows: First, Hartarto, Indonesia's chief economic minister, said at a briefing on palm oil export policy held on the evening of 27th that Indonesia decided to expand the ban on edible oil export and would stop exporting crude oil and edible oil to ensure domestic supply. Indonesia's export ban will greatly reduce the short-term effective supply of global vegetable oil. Second, geopolitical conflicts have greatly affected the export of vegetable oil in the Black Sea region, and will adversely affect the cultivation of sunflower seeds in Ukraine in the new season. Third, the export and crushing profits of American beans are relatively good, and the demand side supports the futures price of American beans. In the medium and long term, the labor shortage in Malaysia will gradually ease from May to June, the export ban in Indonesia will not last long due to limited storage capacity, and the shortage of palm oil supply is expected to ease in the medium and long term. Follow-up attention to the planting area and weather conditions in the new season. Under the background of tight supply and good demand of American soybeans, if there are abnormal weather conditions in American soybean producing areas, it is easy to produce weather speculation.