SunSirs: Positive Support, China Domestic Palm Oil Market Oscillates and Rises

According to the Commodity Market Analysis System of SunSirs, starting from September 23rd, the external market has been boosted, and the palm oil spot market has fluctuated and risen, with an overall increase of over 2%. On September 23rd, the average market price of palm oil was 8,460 RMB/ton, and on September 30th, the average market price of palm oil was 8,696 RMB/ton, with a price increase of 2.79%.

Starting from September 23rd, the palm oil market experienced a rebound, with prices fluctuating upwards. The rise in palm oil this round is mainly due to a decrease in Malaysian palm oil production and an increase in exports in the external market, as well as a strengthening of palm oil futures in the external market. The domestic palm oil futures market has fluctuated and risen, and the spot market has rebounded. The average price of palm oil in the domestic market has risen to around 8,696 RMB/ton, an increase of over 2% compared to the beginning of the month.

SunSirs palm oil analyst believes that after the National Day holiday, the rigid demand for oil terminals will increase, and the palm oil market is expected to continue to rise in the future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.