According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market fluctuated and fell mainly in January, with an overall decline of over 6%. On January 1st, the average market price of palm oil was 10,102 RMB/ton, and on January 23rd, the average market price of palm oil was 9,430 RMB/ton, a decrease of 6.65%.

Weak terminal demand, palm oil market continues to decline in January

After New Year's Day, the overseas palm oil market declined, the domestic palm oil futures market fell, and the spot market entered a diving mode, with prices continuously falling. Malaysia's palm oil production forecast has been lowered in the external market, and favorable factors have resumed. The domestic palm oil futures market has risen, and the spot market has also risen. Due to the general demand for terminal oils, palm oil continued to decline after rising. In early January, the palm oil market experienced ups and downs, with the overall decline being the main trend.

In the latter half of the year, as the Spring Festival approached, the demand for terminal oil consumption weakened. The Malaysian palm oil market was not good in the external market, and the domestic palm oil futures market continued to fluctuate and decline. Spot prices followed suit, and the market average price fell to 9,430 RMB/ton, a decline of more than 3%.

The palm oil analyst from SunSirs believes that after the holiday, the rigid demand for terminal oils is average, and the market will continue to weaken in the future.

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