SunSirs: The Market of Palm Oil and Soybean Oil continues to Decline in China due to Sluggish Terminal Demand
December 15 2022 13:21:59 SunSirs (Selena)
According to the monitoring data of SunSirs, since December, the market of soybean oil and palm oil has weakened, with the price mainly falling. The mainstream quotation of soybean oil dropped to 9,406 RMB/ton, a drop of 7.33%. The mainstream price of palm oil fell to 7,584 RMB/ton, down 11.83%.
The demand of the terminal catering industry is poor, the external futures market is weak, the domestic soybean oil and palm oil market is generally sold, and the transaction is flat. The procurement entities are cautious in entering the market, and multiple negative factors dominate. The soybean oil and palm oil market continues to weaken.
SunSirs agricultural product analyst believes that the demand for catering terminals is not good. In the short term, the market for soybean oil and palm oil is unlikely to improve significantly.
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- 2024-04-16 SunSirs: The Bearish Sentiment still Exists, China Soybean Meal Market may Hit a New Low
- 2024-04-12 SunSirs: Daily Report of China Commodity Data (April 12, 2024)
- 2024-04-12 SunSirs: Good News, China Palm Oil is Expected to Rise
