According to the National Grain and Material Reserve Data Center, Indonesia has announced that it is expected to sign a trade agreement with the United States by the end of January, in which palm oil tariffs can be exempted, which is beneficial for the export of palm oil from production areas. The second is that the first quarter is usually a seasonal trough in palm oil production, and February will usher in the Spring Festival and Ramadan, with palm oil demand expected to rebound. Thirdly, the US Environmental Protection Agency is expected to release the final rules for renewable fuel standards in the first quarter, which may boost the oil and fat market.