Palm oil is expected to lead the oil market.

  After the palm oil futures price broke through the 8,000 yuan/ton mark in mid-March, Tomb-Sweeping Day rose strongly to a nearly one-year historical high of 8,572 yuan/ton that week, driven by market bullish sentiment. However, due to factors such as the fall in crude oil prices and the cooling of biodiesel theme, the main contract of palm oil fell by more than 4% after the holiday, and then it started a high and narrow oscillation trend. With the end of Ramadan, it is expected that the production of producing areas will begin to recover, and palm oil inventories are expected to have a bottom inflection point in the second quarter. Domestically, the upside-down import profits restrict the purchase, and palm oil stocks are difficult to accumulate. Under the internal and external lido resonance, palm oil is expected to continue to lead the oil market in the short term.

  Malaysia continues the destocking pattern.

  Due to the Eid al-Fitr holiday, the release of the monthly supply and demand report of Malaysian Palm Oil Bureau was postponed to April 15th. A few days ago, both Bloomberg and Reuters released forward-looking data, and their expectations of limited recovery of Malaysian palm oil production in March, rapid export growth and continued storage were relatively consistent. Forward-looking data show that palm oil production is 1.36 million-1.38 million tons, an increase of 8%-9.76% from the previous month. From the export point of view, the hoarding of palm oil by traders during Ramadan and Eid al-Fitr has a strong stimulus to the export of producing areas, which is about 1.23 million tons, an increase of 21% from the previous month. Foresight data predicts that Malaysia’s palm oil inventory in March will be 1.76-1.79 million tons, falling to the lowest level since July last year for five consecutive months, with a decrease of 6.65%-8.33%, mainly due to the limited recovery of Ramadan production and the expected increase in downstream purchase demand.

  Since March, the import cost of palm oil has continued to rise. As of April 7th, the FOB price of palm oil in Malaysia was US$ 1030/ton, the CIF price was US$ 1035/ton, and the import cost price was RMB 9013/ton. Poor import profits restrict domestic palm oil from buying ships. From the demand side, under the high spot price, the downstream trading situation did not improve significantly. Due to the continuous narrowing of the spread between soybean and palm oil, soybean oil occupied the palm oil consumption side obviously. The downstream of palm oil is mainly purchased by food factories, and the transaction volume is low. According to the statistics of Steel Federation, as of the week of April 7, the turnover of palm oil in key oil plants nationwide was 1,720 tons, while that of palm oil in key oil plants last week was 3,900 tons, with a decrease of 2,180 tons or 55.89%. The commercial inventory of palm oil in key areas of the country was 529,650 tons, a decrease of 36,400 tons or 6.42% compared with last week; Compared with last year’s 939,300 tons, it decreased by 409,700 tons, a decrease of 43.61%.

  The price difference of competing products fell to a historical low.

  Since 2024, the price difference between bean brown and vegetable brown has continued to decline. By the end of Tomb-Sweeping Day, the spread of 2405 contract bean brown had fallen to a historical low of 662 yuan/ton, and the spread of 2405 contract vegetable brown had fallen to a historical low of 316 yuan/ton. Since March, the fundamental logic of the three major oils and fats in the inner market has been divided. In the second quarter, the expected arrival of domestic imported soybeans and rapeseed in Hong Kong increased greatly, with the monthly arrival of imported soybeans exceeding 10 million tons in the second quarter, while the overall boost of the catering industry on the demand side was relatively limited, and the expected strong supply and weak demand limited the space above the bean vegetable oil.

  South America’s soybean harvest season is gradually released, and the market enters the price-led cycle of the US soybean planting season, and the weather theme may start trading. The DMO policy of palm oil producing areas has been adjusted, which has benefited the market. At the same time, Ramadan has slowed down the recovery of production in producing areas and boosted export demand. It is expected that the producing areas will begin to accumulate stocks in the second half of the second quarter. Against the background of short-term tight internal and external supply, global palm oil prices still have boosting expectations. Domestic palm oil is affected by poor import profits, and the purchase of ships in the second quarter is relatively low, and the inventory is still expected to go down.

  Looking forward to the market outlook, the trend of the oil and fat sector will continue to differentiate in the second quarter, with short-term palm oil performing the strongest, while soybean oil and vegetable oil performing weakly. With the gradual recovery of palm oil production, the unilateral upside of palm oil will gradually narrow, and the spread between bean palm and vegetable palm is expected to rebound. (Author: Guoyuan Futures)

Opinions of Sichuan Provincial People’s Government on Strengthening the Construction of Sichuan Area of Giant Panda National Park

Sichuan Provincial People’s Government

Opinions on strengthening the construction of Sichuan area of Giant Panda National Park

Chuan Fu Fa [2022] No.21

Municipal (state) and county (city, district) people’s governments, provincial government departments and institutions directly under the relevant units:

In order to conscientiously implement the Supreme Leader’s ecological civilization thought, thoroughly implement the spirit of the important speech and important instructions of the General Secretary of the Supreme Leader on the construction of national parks, implement the State Council’s approval request for the establishment of a giant panda national park, focus on protecting biodiversity, natural authenticity and system integrity, make overall plans to promote the management of grass, sand and ice systems in landscapes, forests, fields and lakes, and accelerate the construction of a truly outstanding giant panda national park with high quality, the following opinions are put forward.

First, accelerate the construction of the institutional system

Promote the formulation of regulations on the management of Sichuan Giant Panda National Park. A series of standards and specifications such as protection effectiveness evaluation, patrol monitoring, giant panda habitat restoration, and ecological corridor construction have been issued, forming a technical standard system for the construction of Sichuan area of Giant Panda National Park (hereinafter referred to as Sichuan area). Study innovative measures in the fields of management system and mechanism, ecosystem protection and coordinated development of communities, and issue guidance documents on access, monitoring and patrol of construction projects. Fully link up the "three lines and one single" ecological environment zoning control and the negative list management system for the development of the Yangtze River Economic Belt, and promote the preparation of special plans such as ecological protection and habitat restoration with high quality. Coordinate and integrate relevant special funds for forestry and grassland finance, and establish a stable investment mechanism for funds. Improve and perfect the system composed of laws and regulations, management mechanism and technical standards.

Second, straighten out the operation management system

Accelerate the optimization of the establishment of the giant panda national park management institutions, and on the basis of integrating the staffing of various existing protected areas management institutions within the management scope, make overall arrangements and scientifically verify the staffing. The management organization uniformly exercises the management responsibilities of the Giant Panda National Park, and performs the duties of natural resources management, land and space use control, ecological restoration, franchise management, social participation management, publicity and promotion within the park; The local government of the park exercises the responsibilities of comprehensive coordination of economic and social development, public service, social management and market supervision. Simultaneously promote the reform of the management system of Wolong Special Zone, and build a unified, standardized and efficient management system.

Third, strengthen the management of natural resources

Carry out the investigation, monitoring and evaluation of natural resources, complete the registration of changes in the unified ownership of natural resources, and disclose the registration results to the public according to laws and regulations. Exercise the responsibilities of natural resource asset management within the scope of national parks according to law, and implement the system of paid use of natural resources. Carry out an investigation on the genetic resources of ecosystems, key species and important organisms. Incorporate qualified collective artificial commercial forests into the compensation scope of ecological public welfare forests. Clean up and withdraw from small hydropower stations in an orderly manner, and speed up the retreat of mining rights. Ecological restoration will be carried out in damaged and degraded areas after the relocation of residential areas, planting and breeding, mining and small hydropower withdrawal, and supervision and evaluation of ecological protection and restoration will be carried out. Strengthen the restoration of giant panda habitat and the construction of ecological corridors, and continue to carry out ex situ protection and wild release of rare and endangered species such as giant pandas. Preserve native high-quality germplasm resources.

Fourth, improve the monitoring and patrol system

Formulate the monitoring technical scheme of Sichuan area, make full use of advanced technical means such as high-resolution satellites, and improve the integrated monitoring system of sky and ground. Further strengthen professional management and protection, build a first-class patrol team, and give priority to hiring indigenous residents of the community and employees of state-owned forest enterprises to engage in ecological management and public welfare work in Sichuan area. Improve all kinds of monitoring stations (points) and monitoring sample plots (lines) at all levels, and research and develop real-time monitoring systems for monitoring and patrolling handheld terminals and space use control. Organize daily patrol inspection, divide the responsibility area of management and protection, decompose management and protection indicators, implement management and protection responsibilities, and implement grid management. Establish an integrated development command center and exhibition center, which are open to the public on a regular basis. Promote the digital management of monitoring, patrol, scientific research and office, build the Smart Giant Panda National Park, and connect with the perception system of National Forestry and Grassland Administration National Park.

V. Consolidate basic conditions at the grass-roots level

Follow the concept and method of green construction with ecological priority, protection priority, minimum intervention, simplicity and reduction, make full use of the original infrastructure, and carry out appropriate infrastructure construction such as protection, publicity, explanation, education, scientific research, monitoring and environmental protection. According to the actual needs, the original nature reserve protection stations (points) will be optimized, integrated and standardized, and new protection stations (points) will be built scientifically, equipped with necessary patrol vehicles, drones, handheld pan-tilt cameras, communication equipment and other facilities and equipment, as well as grass-roots workers’ outdoor work clothes, individual patrol and other facilities and equipment. Make good use of the relevant special funds for investment and finance in the central budget, such as the "14th Five-Year Plan" cultural protection inheritance and utilization project, and focus on supporting the protection of infrastructure construction, equipment purchase, facilities and equipment maintenance, as well as improving the working conditions of field monitoring and patrol.

Sixth, stimulate the vitality of attracting talents

Fully reflect the public welfare of national parks, guide and encourage all kinds of talents to sink to the grassroots front line, increase policy and funding support, and steadily improve the treatment of protection station staff. Resident in the township grass-roots protection station in the series of on-the-job personnel in accordance with the provisions of the township work subsidies. Give guidance and encouragement to the frontline personnel who go deep into the patrol monitoring in distant mountains, and give appropriate inclination when allocating performance pay internally. Make Sichuan Giant Panda Research Institute bigger and stronger, strive to establish a key laboratory of Giant Panda National Park, support the research and development and transformation of scientific and technological achievements, broaden income channels, and increase performance pay for those who meet the relevant regulations on innovation and entrepreneurship of scientific researchers. Strengthen the education and training of cadres in Sichuan management institutions and foreign cooperation and exchanges, and open a "green channel" for outstanding young talents to declare their professional titles. Establish an expert advisory Committee in Sichuan area composed of academicians of the two academies, authoritative experts and leading talents. Collectives and individuals who have made outstanding contributions to the construction of the Giant Panda National Park in our province shall be commended and rewarded in accordance with the regulations.

VII. Coordinating regional development as a whole

Correctly handle the relationship between ecological protection and residents’ production and life, and realize the harmonious symbiosis and sustainable development between man and nature. For the collectively owned land and its affiliated resources included in Sichuan area, we should explore ways to safeguard the rights and interests of property owners through leasing, replacement, redemption and cooperation in accordance with the principle of legality, voluntariness and compensation, so as to realize diversified protection. Carry out the construction of entrance communities and friendly demonstration communities, and promote the Sichuan area and surrounding areas to take the lead in rural revitalization and make good demonstrations. Encourage the exploration and establishment of an ecological circle of giant panda cultural and creative industries, and support the development of giant panda cultural and creative industries. Cultivate and develop a green eco-industry that is consistent with the protection goal, standardize the panda-friendly business activities, and study the assistance and reward measures for the development of eco-industry, industrial transformation and upgrading, and the realization of the value of eco-products. Combined with the introduction and domestication of giant panda edible bamboo, habitat quality improvement, ecological corridor construction and other projects, promote carbon neutrality in peak carbon dioxide emissions.

Eight, deepen publicity and education exchanges.

Actively promote ecological experience and nature education, and continue to carry out international and domestic cooperation and exchanges. Systematically sort out the cultural resources of giant pandas and create a super IP for giant pandas. Combined with major events with Sichuan characteristics, we should dig deep into the giant panda culture and its spiritual core, promote the expression of giant panda culture in the new era, and tell the story of national parks well. Digital International Panda Festival and Panda International Culture Week are held regularly to show the unique charm of Sichuan and realize the regional cultural value. Relying on the mainstream media platform, we will put in public service advertisements, publish work trends every month, display monitoring images every quarter, and publish assessment reports every year to respond to social concerns in a timely manner and continuously raise public awareness of ecological protection. Establish a multi-party participation and cooperation platform, improve the social participation and volunteer service mechanism, and encourage enterprises, public welfare organizations and volunteers to participate in the ecological protection of national parks. Establish a special protection fund for Sichuan area, unblock donation channels, and gradually establish diversified investment and financing mechanisms. Combined with Chengdu’s overall plan to build a park city demonstration area with new development concept, we will promote the ex situ conservation and wild training of giant pandas and show the protection effect of giant panda national park to the world.

Nine, continue to do a good job in disaster prevention and mitigation.

People’s governments at all levels and the competent departments of industry should guide the giant panda national park management institutions to establish forest and grassland fire prevention, natural disaster prevention, epidemic prevention and control, and pest monitoring and control systems, carry out surveys on alien invasive species, establish alien species supervision and wildlife health assessment mechanisms, and accelerate the improvement of emergency response capabilities and levels. Fully implement the territorial responsibility, industry management responsibility and business subject responsibility of forest and grassland fire prevention, and strengthen the investigation and management of fire risks. In accordance with the relevant planning and the relevant requirements of the overall plan of Sichuan forest and grassland fire prevention and control, priority should be given to supporting the construction of fire prevention and control infrastructure.

X. Improve the cooperative linkage mechanism.

Explore the establishment and improvement of the convergence mechanism between administrative law enforcement and justice in Sichuan area and the system of transferring cases according to law. We will strengthen the transfer and reception of evidence materials, the transfer of clues and the notification of case handling information, and further promote public interest litigation on ecological environment and resource protection. Increase the publicity of law popularization. Strengthen the supervision of the development and utilization of natural resources, carry out special law enforcement actions in Sichuan area, and severely crack down on illegal and criminal acts such as indiscriminate expropriation, indiscriminate logging, indiscriminate hunting, illegal trading and illegal transportation. Strengthen cooperation with Shaanxi and Gansu provinces, implement the arrangements and agreed matters of the joint meeting of the Giant Panda National Park Bureau and the province, and jointly promote related work.

Sichuan Provincial People’s Government

July 21, 2022