SunSirs: Long Short Gamed, Palm Oil Market Fluctuated Repeatedly
April 25 2023 09:46:38 SunSirs (John)
Price trend
According to the data from the Commodity Market Analysis System of SunSirs, since April, palm oil prices have fluctuated and fluctuated, with an overall decline of over 1%. On April 1st, the average price of palm oil in the market was 7,768 RMB/ton. On April 21st, the average price of palm oil in the market was 7,676 RMB/ton, a decrease of 1.18%.
Long short gamed, palm oil market fluctuated
Starting from April, Malaysian palm oil had entered a production increase cycle, and external data had limited support for the palm oil market. Domestic palm oil was entering a seasonal destocking phase, with continuous positive factors. The combination of bullish and bearish factors had led to a decline in the palm oil market after a sharp rise, with ups and downs. Overall, it fell weakly to 7,600 RMB/ton.
Market outlook
Agricultural product analysts from SunSirs believe that there is still hope for a surge in palm oil in the future due to the improvement in domestic demand for palm oil, coupled with seasonal destocking and bullish support.
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- 2024-04-12 SunSirs: Good News, China Palm Oil is Expected to Rise
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