According to the commodity market analysis system of SunSirs, the palm oil market in June was weak and oscillating, with an overall decline of over 3%. On June 1st, the average price of palm oil in the market was 8,008 RMB/ton. On June 25th, the average price of palm oil in the market was 7,766 RMB/ton, a decrease of 3.02%.

In early June, 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 declined, coupled with a weakening demand for terminal oils and fats. The rebound of the palm oil market was weak, and after a sharp decline, it ushered in an upward trend, with mainly mixed ups and downs.

After the Loong Boat Festival, as the weather warms up, the substitution effect of palm oil is strengthened, the oil market in the external market is boosted, and the market of palm oil futures is higher. In addition to the improved demand for terminal oil, the spot market of domestic palm oil is rising, with the average market price rising to 7,964 RMB/ton, up more than 2%. Starting from the middle of the month, due to the dominance of bearish foreign markets, the domestic palm oil market is mainly oscillating and falling.

As the end of the month approaches, the domestic palm oil market remains weak and mainly in a downward trend, with weak upward momentum and a decrease of about 3% compared to the beginning of the month.

Agricultural product analysts from SunSirs believe that it is currently the off-season for oil consumption, and the palm oil market is still weak in the future, with a continued weak downward trend.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.