SunSirs: Multiple Bearish Factors Intertwined, China Palm Oil Market is Oscillating and Falling
April 18 2024 14:42:27 SunSirs (Selena)
According to the Commodity Analysis System of SunSirs, since April, the palm oil market has been mainly oscillating and declining. As of April 17th, the average price of palm oil in the market is 8,038 RMB/ton, a decrease of over 5%.
The production of Malay palm oil in the external market is in a recovery period, and the futures price has fallen. The demand for many domestic catering products is sluggish, and the market for substitute soybean oil continues to decline. The bearish sentiment is suppressed, and the palm oil market is constantly falling, falling to 8,000 RMB/ton.
SunSirs Palm Oil Analyst believes that Malaysia's palm oil is in a production cycle, with bearish sentiment still present, and palm oil is under pressure to rise in the future.
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