According to the Commodity Market Analysis System of Shengyi Society, since November 11th, long and short positions have been intertwined, and the palm oil spot market has fluctuated and fallen, with an overall decline of nearly 3%. On November 11th, the average market price of palm oil was 10318 yuan/ton, and on November 19th, the average market price of palm oil was 10020 yuan/ton, a decrease of 2.89% in price.
Long Short Game: Domestic Palm Oil Market oscillates and falls
Since November 11th, the palm oil market has fluctuated with ups and downs, and the overall price has fluctuated downward. This round of palm oil decline is mainly due to Malaysia’s palm oil production being in a production reduction cycle, exports declining, and a long short game. After the rise in the external palm oil futures market, there was a decline, and the domestic palm oil futures market rebounded weakly. The spot market did not rise as much as it fell, with weak declines being the main trend. As of November 19th, the average price of palm oil in the domestic market has fallen to 10020 yuan/ton, a decrease of over 300 yuan/ton, and a drop of over 2% in this round.
Li Bing, a palm oil analyst at Shengyi Society, believes that at the end of November, Malaysia’s palm oil was in a production reduction cycle in the external market, and the domestic demand for oil was peak. It is expected that the palm oil market will rise in the future.
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