Palm oil also fell in night trading, with import margins at 60 RMB/tonne, only slightly down from the previous day and still able to cover costs. Trading volume was merely 400 tonnes, also extremely thin. Shipping surveyor AmSpecAgri data showed that Malaysia's palm oil exports declined 0.9% month-on-month during July 1-20; although ITS data showed a 4.1% month-on-month increase over the same period, the data divergence is notable, casting doubt on the sustainability of export momentum. Production and demand in palm oil's producing regions are both expected to increase in July, but current export growth remains limited, Indian procurement remains relatively subdued, and supply pressure persists. Overall, although the development of El Nio suggests future production reduction risks, current fundamental pressures are significant, and a breakout trend is unlikely in the short term.