According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market has been fluctuating downward since November 1st. On November 1st, the average market price of palm oil was 8,818 RMB/ton, and on November 7th, the average market price of palm oil was 8,700 RMB/ton, a decrease of 1.34% in price.

Negative pressure on palm oil market, oscillation and decline

In early November, the Malaysian palm oil market weakened in the external market. Among them, Malaysia's palm oil production is expected to increase, with South Malaysia's palm oil production increasing by 5.55% month on month from October 1st to 31st. The external market is mainly bearish, while the domestic palm oil futures market is mainly following the downward trend, and the spot market is weakening. As of November 7th, the average price of palm oil in the market was 8,700 RMB/ton, with a price drop of 100 RMB/ton.

The palm oil analyst from SunSirs believes that in mid November, Malaysia's palm oil production increased, but the bearish trend still exists, and the palm oil market will continue to decline in the future.

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