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Recent edible oil spot prices are expected to trade stable with a slight upward bias.
Last Friday, CBOT soybean oil futures closed slightly higher. Malaysian palm oil markets were closed on last Friday (March 20) and Monday (March 23), resuming trading on Tuesday (March 24). Due to lower refinery operating rates, tight supply sources, and soybean cost support, spot prices are generally stronger than futures, with basis remaining high. Downstream demand is average, and it is expected that recent oil and fat spot prices will remain stable with a slight upward trend. (Feed Industry Information Network)