SunSirs: External Market Support, China Palm Oil Market Rises
September 24 2024 11:14:53 SunSirs (Selena)
According to the commodity market analysis system of the SunSirs, after the Mid-Autumn Festival, the market of palm oil is getting better and the price is rising. On September 16th, the average market price of palm oil was 7,996 RMB/ton, and on September 20th, the average market price of palm oil was 8,364 RMB/ton, with a price increase of 4.6%.
After the Mid-Autumn Festival, the export data of Malaysia in the external market improved, the palm oil futures market rose, the spot market rose with the market, and the price rose to 8,300 RMB/ton, up more than 4%. The weather has turned cold, and the National Day is approaching. The stocking market for oil terminals has started, and the palm oil market continues to operate at a high level.
SunSirs palm oil analyst believes that as National Day approaches and terminal rigid demand supports it, the palm oil market will continue to rise.
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