Group 1 - The palm oil market is experiencing intensified volatility due to the impact of U.S. non-farm employment data, OPEC+ production decisions, and palm oil production and sales data from Malaysia and Indonesia, leading to fluctuating prices at the beginning of August [1][3] - As of August 7, the average spot price for 24-degree palm oil in the domestic market was 9040 yuan/ton, remaining stable compared to the previous week but with an increased fluctuation range, reaching a maximum amplitude of 2.46% during the week [1][3] Group 2 - The international crude oil market is under significant pressure, negatively affecting palm oil prices. The unexpected weakness in U.S. non-farm employment data has dampened market sentiment, raising concerns about economic prospects and increasing risk aversion [3][5] - OPEC+ announced a production increase of 547,000 barrels per day starting in September, contributing to increased market supply and downward pressure on international crude oil prices, which settled at $63.88 per barrel on August 7, down $5.38 or 7.77% from July 31 [3][5] Group 3 - Despite bearish expectations for Malaysian palm oil fundamentals, strong export demand from Indonesia is supporting prices, with June inventory showing a continued decline expectation, leading to higher Indonesian pricing and increased import costs for palm oil [5][6] - The strengthening of soybean oil prices, driven by significant demand from the Indian market, is also providing upward support for palm oil prices [5][6] Group 4 - In the domestic market, palm oil buying has slowed down recently, with a slight decrease in port inventories, indicating manageable overall supply pressure. The upcoming holiday stocking period in late August is expected to improve market trading atmosphere, potentially leading to an upward shift in spot prices [6] - The forecast for August suggests that the average spot price for 24-degree palm oil in the domestic market will range between 8900 and 9250 yuan/ton, indicating an anticipated upward trend [6]
8月首周棕榈油市场震荡加剧 后期仍有望震荡走高
Xin Hua Cai Jing·2025-08-11 13:53