According to the Commodity Market Analysis System of SunSirs, since August, the soybean oil palm oil market has experienced ups and downs, with oscillations leading to a significant increase in soybean oil. At the beginning of the month, the average price of soybean oil market was 8,368 RMB/ton. On August 30th, the average price of soybean oil market was 8,996 RMB/ton, with a price increase of 7.5%. At the beginning of the month, the average price of palm oil in the market was 7,600 RMB/ton. On August 30th, the average price of palm oil in the market was 7,832 RMB/ton, with a price increase of 3.05%.

Soybean oil: Since August, the soybean oil market has continued to oscillate and rise. In the first half of the month, the futures market rose, with average terminal demand and a mix of long and short positions. The soybean oil market fluctuated in both directions, with a broad range of fluctuations as the main trend. The price rose to 8,600 RMB/ton, with an oscillation of 3.15%. In the second half of the month, terminal demand improved with bullish support, and the soybean oil market continued to rise, with prices rising to around 9,000 RMB/ton, an increase of over 4%.

Palm oil: In August, the palm oil market surged and fell sharply, with an overall oscillatory rise, not as high as soybean oil, with an overall increase of over 3%. In the first half of the month, influenced by the Malaysian palm oil market, the palm oil market was mainly oscillating and fell, with an overall decline of about 1%. In the second half of the month, the demand for terminal oils improved, the soybean oil market rose, and the palm oil market rebounded from the bottom, oscillating up by 1.85%.

Agricultural product analysts from SunSirs believe that in September, the traditional peak season for oil consumption is approaching, supported by rigid demand, and the soybean oil palm oil market is expected to continue to rise.

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