According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market has continued to weaken since April, with a decline of over 6%. On April 1st, the average market price of palm oil was 9,750 RMB/ton, and on April 18th, the average market price of palm oil was 9,150 RMB/ton, a decrease of 6.15% in price.

Since April, the performance of palm oil futures prices in foreign markets has been sluggish, and domestic oil demand is average. The rebound of domestic palm oil spot market is weak, and it continues to decline weakly. After the Qingming Festival, Malaysia is still in a period of increased production, with exports declining. Multiple bearish factors dominate, with palm oil futures prices falling in the external market and domestic palm oil futures falling in tandem, resulting in a weak spot market. The demand for terminal oils is poor, palm oil sales are flat, and the market continues to bottom out. As of April 18th, the average price of palm oil in the market has fallen to 9,150 RMB/ton, a decrease of more than 6%.

The palm oil analyst from SunSirs believes that there is unlikely to be a significant increase in demand for terminal oils, and external bearish factors will dominate. In late April, the palm oil market will continue to decline weakly.

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