The palm oil market is currently influenced by a mix of bullish and bearish factors, and prices are expected to continue fluctuating. From a fundamental perspective, Malaysian palm oil production remains in a growth cycle, though concerns persist regarding potential output declines in the longer term due to the impact of El Niño; while export demand improved in June, the rate of growth slowed significantly, and inventory pressure remains high. Regarding external factors, Indonesia's official implementation of the B50 mandate supports palm oil consumption; however, the recent continued decline in international crude oil prices has reduced the cost-effectiveness of biodiesel, leading to market skepticism about the policy's actual impact and dampening bullish sentiment.

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