According to data from the Commodity Market Analysis System of SunSirs, palm oil prices have continued to decline weakly since August, with a drop of over 1%. On August 1st, the average price of palm oil in the market was 7,600 RMB/ton. On August 9th, the average price of palm oil in the market was 7,482 RMB/ton, a decrease of 1.55%.

In early August, Malaysian palm oil was in a production increase cycle, and the external market for Malaysian palm oil futures weakened. The domestic palm oil futures market fell, coupled with poor demand for terminal oils, and the spot market for palm oil rebounded weakly, with oscillations mainly falling. The mainstream quotation fell to around 7,500 RMB/ton, with a slight decline in business conditions.

SunSirs agricultural product analyst believes that the demand for terminal oils is poor, and the future palm oil market is weak, with weak declines being the main trend.

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