According to the Commodity Market Analysis System of SunSirs, the palm oil market has been continuously weakening since November, with market fluctuations and mainly falling, until early December. On November 1st, the average market price of palm oil was 8,818 RMB/ton, and on December 9th, the average market price of palm oil was 8,628 RMB/ton, a decrease of 2.15% in price.

Since November, Malaysian palm oil has entered a production reduction cycle, with lower oil production estimates and support for the overseas palm oil market, while domestic palm oil futures have risen. Due to the average demand for palm oil in China, inventory continues to rise. As of December 5th, palm oil inventory is at the level of 700,000 tons, an increase of 30% year-on-year. Negative factors remain, with the palm oil market experiencing ups and downs, mainly oscillating downwards. As of December 9th, the average price of palm oil in the market has fallen to 8,600 RMB/ton, with an overall decrease of 200 RMB/ton.

Palm oil analysts from SunSirs believe that in mid December, the rigid demand for terminal oils and fats is still present, supported by external bullish factors, and the palm oil market may fluctuate and rise in the future.

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