According to the commodity analysis system of SunSirs, since February 10th, the bullish trend has still dominated, with palm oil prices oscillating and rising mainly. On February 10th, the average market price of palm oil was 9,790 RMB/ton, and on February 19th, the average market price of palm oil was 10,084 RMB/ton, an increase of 3%.
Starting from February 10th, Malaysia's palm oil production forecast has been raised, and negative factors have hit, causing a decline in the palm oil market after a rise. Due to the low inventory of palm oil in the domestic market and tight supply, the palm oil market has experienced another upward trend after a decline, with high volatility being the main trend and the market remaining strong. Continuously hovering around the 10,000 RMB mark. As of February 19th, the average price of palm oil in the domestic market has once again exceeded 10,000 RMB/ton, and the market has risen.
The palm oil analyst from SunSirs believes that as of the end of February, external bullish factors are still present, and domestic demand for oil and fat terminals has fallen, putting pressure on the upward trend of palm oil in the future market, with a weak downward trend being the main trend.
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