According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market showed mixed ups and downs in July, with overall oscillation and upward trend being the main trend. On July 1st, the average market price of palm oil was 8,600 RMB/ton, and on July 29th, the average market price of palm oil was 8,990 RMB/ton, an increase of 4.6%.

In early July, the palm oil market fluctuated and rose. Malaysian palm oil long short game. Among them, from July 1st to 10th, the yield of palm oil in Malaysia increased by 35.43%, and the output increased by 35.28%. Mainly negative. Palm oil exports increased from July 1st to 10th, with a month on month growth of 12.0%. The bullish trend is still present, with a combination of bullish and bearish factors. The overseas palm oil market fluctuated and rose, while the domestic palm oil futures market fluctuated and rose, and the spot market was supported. The demand for terminal oils is poor, and the domestic palm oil futures market is fluctuating and rising. As of July 15th, the average price of palm oil in the market has risen to 8,844 RMB/ton, with a price increase of over 200 RMB/ton.

In mid month, South Malaysia's palm oil production increased by 6.19% month on month, while Malaysia's palm oil exports decreased by 3.5% to 7.3% month on month. The bearish trend is dominant, and the boost effect of palm oil in the external market is limited. Supported by rigid demand for palm oil domestically, the futures market is heating up, while the spot market is steadily rising. As of July 24th, the average price of palm oil in the market was 9,172 RMB/ton, an increase of 300 RMB/ton compared to mid month.

At the end of the month, the external palm oil market continued to weaken, and the domestic palm oil futures market was not good, with spot prices mainly following the downward trend. Due to the hot weather and flat demand for oil, palm oil prices have gradually declined, dropping to around 9000 RMB/ton.

The palm oil analyst from SunSirs believes that in August, the demand for terminal oils and fats is not good, and the external market is still bearish. The future palm oil market may mainly decline weakly.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.