According to the monitoring data of SunSirs, on July 22, the domestic palm oil spot market fell sharply, and the mainstream quotation fell to 9,400 RMB/ton, down about 150 RMB/ton, a single-day drop of 1.33%.
Analysis review
Indonesia's trade minister, one of the major palm oil producers, said it was considering scrapping the domestic sales requirement (DMO) for palm oil exports. The supply of palm oil was expected to increase, and the external market was dominated by negative results. Domestic palm oil futures fell with the disk, and the spot market fell sharply.
Market outlook
The agricultural product analyst of SunSirs believes that: the foreign policy is a long-short game, and it is expected that palm oil will still have room for growth in the market outlook.
