On September 6th, the National Grain and Oil Information Center reported that monitoring shows that on September 5th, the CNF quotes for 24 degree palm oil from Malaysia for November and December were 965 US dollars/ton and 960 US dollars/ton, respectively. This is equivalent to a North China port tax payment cost (9% tariff and 9% value-added tax) of 8,130 RMB/ton and 8,070 RMB/ton, which is 144 RMB/ton and 84 RMB/ton higher than the contract price of palm oil 2501 from Dalian Commodity Exchange; The import spot profit for the November December shipping schedule is between 100-180 RMB/ton. Last week, China added 8 new palm oil ships, including 1 ship scheduled for December and 7 ships scheduled for May next year.

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