SunSirs: China Palm Oil Market Weakly Falls Before the Spring Festival

According to the Commodity Market Analysis System of SunSirs, the palm oil market fluctuated and fell before the Spring Festival. On January 20th, the average market price of palm oil was 9,752 RMB/ton, and on January 23rd, the average market price of palm oil was 9,430 RMB/ton, a decrease of 3.3% in price.

Palm oil market declines before Spring Festival

As the Spring Festival approaches, the demand for terminal oil consumption is declining, and the overseas palm oil market in Malaysia is not good. The domestic palm oil futures market has fallen sharply, and the oil spot market continues to decline, with prices falling below 9,500 RMB/ton, a drop of more than 3%. Domestic palm oil trade has also gradually ceased.

Palm oil analysts from SunSirs believe that in February, the demand for palm oil terminal consumption remained weak, and the upward trend in the future market remained weak.

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