Price trend

According to the data from the Commodity Market Analysis System of SunSirs, since April, palm oil prices have fluctuated and fluctuated, with an overall decline of over 1%. On April 1st, the average price of palm oil in the market was 7,768 RMB/ton. On April 21st, the average price of palm oil in the market was 7,676 RMB/ton, a decrease of 1.18%.

Long short gamed, palm oil market fluctuated

Starting from April, Malaysian palm oil had entered a production increase cycle, and external data had limited support for the palm oil market. Domestic palm oil was entering a seasonal destocking phase, with continuous positive factors. The combination of bullish and bearish factors had led to a decline in the palm oil market after a sharp rise, with ups and downs. Overall, it fell weakly to 7,600 RMB/ton.

Market outlook

Agricultural product analysts from SunSirs believe that there is still hope for a surge in palm oil in the future due to the improvement in domestic demand for palm oil, coupled with seasonal destocking and bullish support.

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