Sale Prices of 24 Degree Palm Oil in Major Areas on Nov 7
Date:08 November 2016
Today the domestic spot prices of palm oil fluctuate at relatively high level on the whole. The producers in most areas follow the trend to adjust up the quotes by RMB 10 to 50 / tonne, and those in some areas continue to stabilize the prices in sales. The market is full of the wait-and-see atmosphere and the purchase and sale continue to be flat. The soybean futures on CBOT closed high last Friday, as the investors adjusted the positions before the US general election on Tuesday and the monthly supply and demand report to be released on Wednesday. But the soybean oil futures on CBOT declined by 1% that day, dragged down by the decreasing Malaysian palm oil prices and international crude oil prices. With the positive and negative factors intertwined, today the domestic palm oil prices continue to fluctuate in narrow ranges, significantly driven up by the palm oil futures prices in the Malaysian market picking up from the bottom. According to the estimates of, it is expected that the domestic palm oil prices will mainly fluctuate at a high level with uptrend in the near future. It is recommended to mainly sell the spot goods at higher prices so as to lock in the profits in time.
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