SunSirs: Weak Demand, China Palm Oil Market was Declining
July 19 2023 09:58:43 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the palm oil market fell weakly last week. On July 14th, the average price of palm oil in the market was 7,690 RMB/ton. On July 14th, the average price of palm oil in the market was 7,578 RMB/ton, a decrease of 1.46%.
In mid July, due to the impact of high temperature weather, the demand for terminal catering was flat, and the palm oil market transactions were average. Coupled with the poor performance of the external oil futures market, the palm oil market continued to decline, with the mainstream market quotation dropping to 7,500 RMB/ton, a decrease of over 1%.
SunSirs agricultural product analyst believes that there are still positive factors in the external market, and there is still room for palm oil to rise in the future.
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