According to the Commodity Market Analysis System of SunSirs, starting from October 15th, the domestic palm oil market weakened and prices fell. On October 15th, the average market price of palm oil was 9,362 RMB/ton, and on October 23rd, the average market price of palm oil was 9,080 RMB/ton, a decrease of 3.01% in price.

After the holiday, the palm oil market surged and then experienced a downturn. Starting from mid October, the domestic palm oil market has gradually weakened, with prices oscillating downwards, with a decline of over 3%. This is mainly due to Malaysia's palm oil production being in a growth period. From October 1st to 20th, South Malaysia's palm oil production increased by 2.71% month on month. The external market is bearish, with palm oil futures falling and spot prices following suit, with prices dropping by nearly 300 RMB/ton. As of October 23rd, the average price of palm oil in the market has fallen to around 9,000 RMB/ton.

The palm oil analyst from SunSirs believes that with the increase in rigid demand for terminal oils, the future market trend of palm oil may stop falling and rise.

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