SunSirs: External Market Pressure on Palm Oil Market Weakens

According to the Commodity Market Analysis System of SunSirs, as of the end of March, the overseas palm oil market in Malaysia was not good, while the domestic palm oil market continued to weaken, with a decline of over 1.6%. On March 24th, the average market price of palm oil was 9,704 RMB/ton, and on March 28th, the average market price of palm oil was 9,544 RMB/ton, a decrease of 1.65% in price.

At the end of March, Malaysia's production is expected to increase, leading to a decline in palm oil futures prices outside the market, followed by a decline in domestic palm oil futures, and a weakening of the spot market. The demand for terminal oils is poor, palm oil sales are average, market transactions are flat, and the market continues to fluctuate and decline.

The palm oil analyst from SunSirs believes that the sluggish demand for terminal oils and fats and limited external support will continue to put pressure on the palm oil market's upward trend in April.

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