According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market has continued to decline weakly since June. On June 3rd, the average market price of palm oil was 8,636 RMB/ton. On June 6th, the average market price of palm oil was 8,520 RMB/ton, a decrease of 1.34% in price.

Since June, the palm oil market has continued to decline weakly. Mainly due to high yields in the external market, Malaysia's palm oil production is estimated to increase by 3.07% from May 1st to 31st. The upward momentum at the futures level is insufficient. The sluggish demand for terminal oils and fats, coupled with multiple negative factors, has led to a weak decline in the domestic palm oil futures market, with spot prices mainly following the downward trend. As of June 6th, the average price of palm oil in the market has fallen to 8,520 RMB/ton, with a price drop of about 100 RMB/ton.

Palm oil analysts from SunSirs believe that in mid to late June, the demand for terminal oils and fats remains weak, and major producing countries are in a production increase cycle. The palm oil market will continue to decline weakly in the future.

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