SunSirs: Positive News, China Palm Oil Market is Fluctuating and Rising
November 22 2023 15:46:55 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market rose first and then fell last week, with the market mainly fluctuating and rising. At the beginning of the week, the average price of palm oil in the domestic market was 7,352 RMB/ton. On the weekend, the average price of palm oil in the domestic market was 7,468 RMB/ton, an increase of 1.58%.
Last week, the Malaysian palm oil market in the external market rose, while the domestic palm oil futures market followed suit and the spot market rose by over 3%. As the weekend approached, the gains were absorbed by the market, and the domestic palm oil spot market declined by over 1%. This week, the overall fluctuation of palm oil market rose by 1.58%.
SunSirs agricultural product analyst believes that the fourth quarter is the peak season for traditional oil consumption, supported by positive factors, and there is still room for improvement in the future palm oil market.
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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
- 2024-04-10 SunSirs: China Soybean Oil Market and Palm Oil Market Declined after the Qingming Festival
- 2024-03-25 SunSirs: Futures Market Boosting, China Soybean Oil and Palm Oil Market are Rising
