SunSirs: Weak Oscillation in China Palm Oil Market in December
December 29 2023 14:51:02 SunSirs (Selena)
According to monitoring data from SunSirs, since December, the palm oil market has seen mixed ups and downs, with overall fluctuations and declines being the main trend. On December 1st, the average price of palm oil in the market was 7,212 RMB/ton. On December 26th, the average price of palm oil in the market was 7,158 RMB/ton, a decrease of 0.72%.
Starting from December, the performance of external oil futures has been poor, and the palm oil futures market has been suppressed. The rigid demand for terminal oil has supported the palm oil market, with a wide range of oscillations as the main trend, with frequent fluctuations in the market. The market price of palm oil is between 7,100-7,200 RMB/ton, with a monthly decline of less than 1%.
SunSirs agricultural product analyst believes that as New Year's Day and Spring Festival approaches, the terminal stock market for oil and fat is driving up, and there is still room for palm oil to rise in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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