SunSirs: Negative Pressure, Weak Decline in China Palm Oil Market
June 28 2024 15:20:18 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, at the end of June, the palm oil market oscillated and fell. On June 24th, the average price of palm oil in the market was 7,854 RMB/ton. On June 27th, the average price of palm oil in the market was 7,784 RMB/ton, a decrease of 0.89%.
At the end of June, as the weather warmed up and the demand for oil terminal consumption weakened, the external oil market declined, and the market trading volume declined. The substitute soybean oil market was not good, and multiple bearish factors suppressed it. The palm oil market was mainly oscillating and fell, with a decline of nearly 1%.
SunSirs agricultural product analyst believes that terminal oil consumption is flat, and the palm oil market will continue to decline weakly in the future.
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