SunSirs: Long and Short inTertwined, China Palm Oil Market Oscillates and Rises

According to the Commodity Market Analysis System of SunSirs, since July 22nd, long and short factors have intertwined, and the domestic palm oil market has fluctuated and risen. On July 22nd, the average market price of palm oil was 7,942 RMB/ton, and on July 26th, the average market price of palm oil was 7,998 RMB/ton, with a price increase of 0.71%.

Starting from July 22nd, the production of palm oil in Malaysia, the main producing country, is expected to increase. The Malaysian palm oil futures market has fallen in the external market, while domestic palm oil futures have fallen along with the market. The spot market has shown weak rebound and continues to decline. As the weekend approaches, Malaysia's palm oil export data is improving, with a rebound in foreign futures prices and a rise in domestic palm oil prices. The overall spot market is rising, with a daily increase of 1.57%.

SunSirs agricultural product analyst believes that in August, the demand for terminal oils and fats remains flat, and the palm oil market may mainly experience a weak downward trend.

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