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SunSirs reported that palm oil prices fell sharply on April 1, 2022, with an average market price of 12,294 RMB per tonne and a single-day drop above 3%. The decline followed weaker external futures, with high prices curbing transactions and demand.
Weak domestic demand at high prices and falling external futures point to lower palm oil prices in the near term. The impact on feed-related markets is limited.
sunsirs.comApr 2, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Confirms a sharp April 1 drop of over 3% in palm, driven by weaker external futures and high prices curbing demand.
