SunSirs: Negative Pressure, China Palm Oil Market is in Weak Downward Trend

According to the Commodity Market Analysis System of SunSirs, since September, the palm oil market has weakened and prices have fluctuated downward. On September 1st, the average market price of palm oil was 8,180 RMB/ton, and on September 12th, the average market price of palm oil was 8,004 RMB/ton, a decrease of 2.15% in price.

Starting from September, the palm oil market weakened and prices continued to decline. This round of palm oil oscillation has declined, mainly due to Malaysia's palm oil production meeting expectations in the external market, export decline, weak palm oil futures in the external market, continuous rise in domestic palm oil futures market, and weak rise in spot market. The average price of palm oil in the domestic market has fallen to around 8,000 RMB/ton, a decrease of over 2% from the beginning of the month.

SunSirs palm oil analyst believes that as the Double Festival approaches in late September, the demand for oil terminals will increase, and the palm oil market is expected to rebound in the short term.

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