According to the Commodity Market Analysis System of SunSirs, the bearish trend continued this week, with a weak decline in the domestic palm oil market. On June 9th, the average market price of palm oil was 8,644 RMB/ton, and on June 11th, the average market price of palm oil was 8,452 RMB/ton, a decrease of 2.22% in price.

This week, the palm oil market has been weak and declining. Mainly due to the high yield of palm oil in the offshore market, Malaysia's palm oil production in May was 1.77 million tons, an increase of 5.05% compared to April. The bearish trend in futures is still present. Poor demand for terminal oils and fats, negative pressure, weak decline in domestic palm oil futures market, and decline in spot prices. As of June 11th, the average price of palm oil in the market has fallen to 8,452 RMB/ton, with a price drop of nearly 200 RMB/ton.

The palm oil analyst from SunSirs believes that in late June, the demand for terminal oils will still be poor, with loose supply, and the palm oil market will continue to decline weakly in the future.

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