According to the Commodity Market Analysis System of SunSirs, starting from July 8th, terminal demand has been sluggish, and the palm oil market has dropped significantly, with a decline of over 3%. On July 10th, the average price of palm oil in the market was 7,746 RMB/ton. On July 10th, the average price of palm oil in the market was 7,746 RMB/ton, with a price drop of 3.58%.

Starting from July, the temperature continues to rise, and the demand for oil consumption has weakened. The palm oil inventory in Malaysia, the main producing country, has continued to grow, with external bearish factors dominating. Domestic palm oil futures have followed suit and fallen, while spot prices have been under pressure due to rising prices, with continuous downward adjustments being the main focus. As of July 10th, the average price of palm oil in the market has dropped to the first line of 7,700 RMB/ton.

SunSirs agricultural product analyst believes that in mid July, there will be little improvement in terminal demand for oil and fat, and the future palm oil market will continue to be weak and downward.

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