Yesterday, domestic vegetable oil futures prices moved higher, with palm oil leading the gains, followed by soybean oil, while rapeseed oil was relatively weaker. On palm oil, data from the Southern Peninsula Palm Oil Millers Association (SPPOMA) showed that Malaysia's palm oil production for May 1-15, 2026 fell 16.42% month-on-month, with fresh fruit bunch yields down 12.47% and oil extraction rates down 0.75%. The production decline exceeded market expectations. Coupled with strong crude oil prices and concerns that the continued closure of the Strait of Hormuz is depleting global inventories, palm oil prices rose significantly. Domestically, inventories of the three major vegetable oils remained at relatively high levels, and purchases continued, with one new palm oil vessel purchase for December added yesterday, keeping spot market pressure intact.