According to the commodity market analysis system of SunSirs: after the Qingming Festival, the domestic palm oil market fluctuated and fell by more than 4%. On April 7, the average price of palm oil in the market was 9,800 RMB/ton, and on April 10, the average price of palm oil in the market was 9,384 RMB/ton, a price drop of 4.24%.
Negative factors suppress the domestic palm oil market and the market is weak and falling
After the Qingming Festival, Malaysia's production increased significantly month-on-month, and exports decreased. Negative factors suppress the palm oil futures prices in the foreign market, and the domestic palm oil futures follow the market and fall. The spot market fluctuates and falls. The demand for terminal oils and fats is sluggish, and the palm oil transaction is general. The market continues to fluctuate and fall weakly.
Palm oil analysts believe that the demand for terminal oils and fats is low, and the boosting effect of the foreign market is limited. In mid-to-late April, the palm oil market will still be weak.
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