Advertisements

Domestic Palm Oil Prices Stabilize Amid Global Optimism

by Daisy

On July 11, Jinshi Futures reported a positive turn in the domestic palm oil market. As of 10 am, the mainstream price of 24-degree palm oil in the Zhangjiagang market stood at P2409+130 yuan/ton, totaling 7770 yuan/ton. This marks a rise of 30 yuan/ton from the previous day’s close, reflecting a 0.39% increase.

In June, Malaysian palm oil inventories surged to their highest levels in nearly four months. However, July has seen a notable improvement in Malaysian palm oil export data. This uptick, coupled with increased domestic transactions and support from major factories, has bolstered spot prices. Furthermore, the recent uptrend in international crude oil prices is anticipated to provide additional support, potentially halting the recent decline and fostering a rebound in palm oil prices.

Advertisements

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News