According to the Commodity Market Analysis System of SunSirs, since mid December, the combination of long and short factors has led to a rebound in the palm oil spot market after a sharp drop. On December 23rd, the daily increase exceeded 1%, and the rebound was not as significant as the decline, with the overall trend still dominated by a downward trend. On December 16th, the average market price of palm oil was 10,082 RMB/ton, and on December 23rd, the average market price of palm oil was 9,720 RMB/ton, a decrease of 3.59% in price.

Since mid December, the palm oil market has experienced a wave of upward trend after a decline. Due to the significant drop, the overall price has fluctuated and fallen, falling below 10,000 RMB/ton, with an overall decline of over 4%. Due to ongoing bullish factors, palm oil experienced a rebound after a decline, with prices rising to 9,700 RMB/ton. The weak rebound of palm oil in this round is mainly due to the average demand for terminal oils, and the poor palm oil market in the Malaysian market. The palm oil market is under pressure to rise, and the weak decline is the main reason.

SunSirs palm oil analyst believes that as the New Year and Spring Festival approach at the end of December, the rigid demand for fats and oils will increase, and there is still room for palm oil to rise in the future market.

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