Business community： palm oil market ＂slides＂ in 2023, and it may turn around in 2024.

Securities Times E Company News, according to the commodity market analysis system of the business community, in 2023, the external market was dominated by negative interest, the terminal demand was sluggish, and the domestic palm oil market fluctuated and fell, with the annual decline exceeding 14%. At the beginning of the year, the average market price of palm oil was 8356 yuan/ton. On December 31st, the average market price of palm oil was 7120 yuan/ton, down 14.79%. The highest price in the whole year is only 8406 yuan/ton, which is nearly 8000 yuan/ton different from the record high of 16240 yuan/ton in 2022. Business analysts believe that the pressure on the supply side is still there, and the demand is picking up one after another, playing a long-short game. In 2023, the palm oil market continues to weaken and has fallen to a low point. It is expected that the palm oil market trend in 2024 will be higher than that in 2023 as a whole, and it will usher in a big rise during the palm oil production reduction cycle, and the first half will be better than the second half.