SunSirs: Good News, China Palm Oil Market Fluctuates and Rises
June 16 2023 15:03:49 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the palm oil market has oscillated and risen this week. On June 12th, the average market price of palm oil was 7,158 RMB/ton. On June 15th, the average market price of palm oil was 7,360 RMB/ton, with a price increase of 2.82%.
In mid June, the Malaysian palm oil market in the external market rose, and the domestic palm oil futures market improved. Coupled with the warming weather, the demand for palm oil to replace soybean oil increased, with bullish support. The domestic palm oil spot market saw an upward trend, with mainstream quotes exceeding 7,300 RMB/ton.
SunSirs agricultural product analyst believes that due to the high temperature, the demand for oil terminals has weakened, and it is expected that China soybean oil market in the future may decline weakly.
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- 2024-04-18 SunSirs: Daily Report of China Commodity Data (April 18, 2024)
- 2024-04-18 SunSirs: Multiple Bearish Factors Intertwined, China Palm Oil Market is Oscillating and Falling
- 2024-04-12 SunSirs: Good News, China Palm Oil is Expected to Rise
- 2024-04-11 SunSirs: The Trading Overview on Nonferrous Metals of Shanghai Futures Exchange on April 10th
- 2024-04-10 SunSirs: China Soybean Oil Market and Palm Oil Market Declined after the Qingming Festival
