SunSirs: Combination of Long and Short Positions, China Palm Oil Market Oscillates and Falls

According to the Commodity Market Analysis System of SunSirs, the domestic palm oil market has continued to decline weakly since mid April, with a drop of over 2%. On April 14th, the average market price of palm oil was 9,374 RMB/ton, and on April 25th, the average market price of palm oil was 9,102 RMB/ton, a decrease of 2.9% in price.

Starting from mid April, Malaysia's production increased month on month, and the boost effect of foreign palm oil futures market was limited. Domestic palm oil futures fell weakly, and the rebound of spot market was weak. The demand for terminal oils has increased, and palm oil sales have improved. The market has fluctuated, with the average price of palm oil falling to 9,102 RMB/ton as of April 25th, a decline of nearly 3%.

The palm oil analyst from SunSirs believes that during the May Day holiday, the demand for oil consumption increased, the temperature rose, and the substitution effect of palm oil increased. The market is expected to rebound.

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