According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market fluctuated and fell in March, with an overall decline of over 2%. On March 1st, the average market price of palm oil was 9,810 RMB/ton, and on March 28th, the average market price of palm oil was 9,544 RMB/ton, a decrease of 2.71%.

At the beginning of the month, Malaysia's palm oil export data declined, domestic palm oil terminal demand was sluggish, market transactions were average, and multiple negative factors dominated. The domestic palm oil futures market fell and rose, with the overall decline being the main trend, while the spot market followed suit and weakened. As of March 11th, the domestic palm oil market price has fallen to 9,700 RMB/ton, a decrease of 100 RMB/ton from the beginning of the month.

In the middle of the month, Malaysian palm oil entered a period of increased production in the external market, and the fundamentals remained mainly negative. Due to the increase in Indonesian palm oil exports, the palm oil futures market was somewhat bullish, with a long short game. The domestic palm oil spot market fluctuated narrowly and overall weakened. As of March 19th, the average market price of palm oil has fallen to 9,700 RMB/ton, a decrease of 100 RMB/ton from the beginning of the month.

At the end of the month, Malaysia's production is expected to increase, leading to a decline in palm oil futures prices outside the market, followed by a decline in domestic palm oil futures, and a weakening spot market. The demand for terminal oils is poor, palm oil sales are average, market transactions are flat, and the market continues to fluctuate and decline. On March 28th, the average market price of palm oil was 9,544 RMB/ton, a decrease of 200 RMB/ton from the beginning of the month.

The palm oil analyst from SunSirs believes that in April, there are still negative factors in the external palm oil market, and the demand for terminal oils is sluggish. The palm oil market will continue to weaken in the future.

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