SunSirs: Positive Support, China Palm Oil Market Rises
January 12 2024 10:11:11 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, since January 4th, the palm oil market has rebounded and prices have continued to rise. On January 11th, the average price of palm oil in the market was 7,266 RMB/ton, an increase of 4.64% compared to January 4th.
Starting from January 4th, the domestic palm oil market has returned to an upward trend. Due to the expected decrease in Malaysian palm oil inventory data, the external Malaysian palm oil futures market has risen for several days, boosting the domestic palm oil futures market. Spot prices have followed suit and fluctuated for nearly a week, with prices rising by over 4% compared to January 4th.
SunSirs agricultural product analyst believes that with the support of rigid demand for terminal oils and fats, there is still bullish external market sentiment, and there is still room for an upward trend in the palm oil market in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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