Price trend

According to the monitoring data of SunSirs, on May 5, the soybean oil and palm oil market plunged, with a single-day decline of more than 1%. The average market price of soybean oil was 11,660 RMB/ton, down 1.62% from the previous trading day; the average market price of palm oil was 15,860 RMB/ton, down 1.49% in a single day.

Analysis review

Malaysian palm oil has entered a cycle of increasing production, production is estimated to increase, and terminal oil and fat demand has declined. Bad news struck, the domestic soybean oil and palm oil spot market fell.

Market outlook

In the early stage, the price of soybean oil and palm oil rose too much, and now it has entered a correction period. It is expected that the soybean oil and palm oil market will remain weak and down in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com