According to the Commodity Market Analysis System of SunSirs, the palm oil market in July mainly fluctuated weakly, with an overall decline of less than 1%. On July 1st, the average market price of palm oil was 8,016 RMB/ton, and on July 30th, the average market price of palm oil was 7,954 RMB/ton, a decrease of 0.77% in price.

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, driven by negative external factors. Domestic palm oil futures have followed suit and fallen, while the spot market has been under pressure and continuously lowered. As of July 10th, the average price of palm oil in the market has fallen to around 7,700 RMB/ton.

Since the 10th, the export data of palm oil from Malaysia, the main producing country, has improved. The Malaysian palm oil futures market has risen in the external market, while domestic palm oil futures have followed suit and risen. The spot market has stopped falling and continued to rise. As of July 16th, the average price of palm oil in the market has risen to around 7,900 RMB/ton.

After the 22nd, the production of palm oil in Malaysia, the main producing country, is expected to increase. The overseas palm oil futures market in Malaysia has fallen, while domestic palm oil futures have fallen along with the market. The spot market has weak rebound and continues to decline. As the weekend approaches, Malaysia's palm oil export data is improving, with a rebound in foreign futures prices and a rise in domestic palm oil prices. The overall spot market is rising, with a daily increase of 1.57%.

At the end of the month, the demand for terminal catering was sluggish, with limited gains led by external markets. The palm oil market continued to show mixed ups and downs, with overall weakness and decline being the main trend.

According to the agricultural product analyst of SunSirs, starting from August, due to the impact of high temperature weather, terminal oil consumption is still in the off-season, and the future palm oil market is still under pressure to rise.

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