According to the monitoring of SunSirs: in September, palm oil ended its soaring market and gradually weakened. As of September 11, the average market price of palm oil was RMB 4862/ton, down 0.69% from the beginning of the month.

In September, the Sino-US trade negotiations entered into the negotiation period again, with the negative pressure, soybean oil led oil to a wave of dives and palm oil fell. According to the data, Malaysia's palm oil inventories in August were repeatedly low, although the inventories were low, but production ushered in a substantial increase. External market is hard to say, the Mid-Autumn Festival in China has reached the end of the stock market, coupled with a substantial increase in vegetable oil imports, limited terminal support, palm oil market gradually weakened.

Inventory: According to the latest data from the Malaysian Palm Oil Bureau (MPOB), palm oil stocks fell for six consecutive months in August, dropping 5.3% to 2.25 million metric tons per month, higher than the market forecast of 222,000 metric tons, but still set a new record of 13 months.

Output: In August, the original palm oil output increased by 4.64% per month to 1.82 million metric tons, which was also higher than the market forecast, and remained at 1.74 million metric tons in July, which was 1.74 million metric tons.

Imports: In August, China imported 907,000 tons of edible vegetable oil, and in January-August, 5818,000 tons. Compared with the same period last year, it increased by 50.2%.

After the Mid-Autumn Festival, the oil market has entered a period of oscillation, and palm oil market has entered a downward channel one after another.

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