According to monitoring data from SunSirs, the domestic palm oil market fluctuated and fell in early February. On February 1st, the average market price of palm oil was 9196 RMB/ton, and on February 6th, the average market price of palm oil was 9,002 RMB/ton, a decrease of 2.11% in price.

At the beginning of February, the external Malaysian palm oil data was mainly positive, with a decline in production and strong exports. Among them, from January 1st to 31st, the palm oil production in South Malaysia decreased by 13.08% month on month, while the palm oil export volume in Malaysia increased by 14.9% to 17.9% month on month. The overall performance of the Malaysian palm oil market in the external market is relatively strong. Due to weak domestic demand for palm oil terminals, the boosting effect of the overseas palm oil market is limited. The domestic palm oil futures market is average, while the spot market is overall weak, with a decline of over 2%.

SunSirs palm oil analyst believes that after the holiday, the demand for oil consumption will weaken, inventory pressure will suppress, and the palm oil market will continue to operate weakly in the future.

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