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Home > Soybean Oil Palm Oil News > News Detail
Soybean Oil Palm Oil News
SunSirs: Under the Dominance of the Negative, the Soybean Oil and Palm Oil Market Fell Sharply
June 21 2022 10:02:39SunSirs(John)

Price trend

According to the monitoring data of SunSirs, after the Dragon Boat Festival, the soybean oil and palm oil market entered a downward channel, and they fell mainly. On June 20, the average market price of soybean oil was 11,810 RMB/ton, down 6.86% from June 7; the average market price of palm oil was 13,992 RMB/ton, down 13.84% from June 7.

Analysis review

Negative factors dominated, soy oil and palm oil prices dived

Malaysia's palm oil exports in May fell by 60% month-on-month, and from June 1 to 20, palm oil export data fell by more than 10% month-on-month. The external market was dominated by bad news, and the domestic palm oil market fell sharply, with a single-day drop of more than 5%, and the mainstream quotation fell below the 14,000-yuan mark. Soybean oil followed the footsteps of palm oil, and the price also showed a downward trend, with a decline of more than 2%, and the mainstream quotation was 11,800 RMB/ton.

Market outlook

The agricultural product analyst of SunSirs believes that after this round of sharp declines, soybean oil and palm oil may stop falling and rebound in the market outlook.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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