Bullish Support, Palm Oil Prices Surge After the Holiday

October 09, News

According to the commodity market analysis system: starting from September 23rd, the palm oil market in China began to rise, with prices increasing. During the National Day holiday, foreign palm oil markets continued to show an upward trend, and after the holiday, the opening price of palm oil surged, followed by a rise in spot prices. On September 23rd, the average market price of palm oil was 8,972 CNY/ton, and on October 9th, it rose to 9,598 CNY/ton, marking a 6.98% increase in price.

Bullish support leads to a significant rise in palm oil prices after the holiday

Since September 23, the palm oil market has strengthened. The boost from Malaysian palm oil has been limited. Among them, the Malaysian palm oil production for September 1-30, 2025, decreased by 2.42% month-over-month. With the forecasted decline in Malaysian palm oil production, the futures price of palm oil in the external market has risen. During the National Day holiday, Malaysia's palm oil export data was strong, and inventory estimates were revised downward. The external market palm oil prices continued to rise, with an increase of over 4%. After the holiday, the Dalian palm oil futures opened significantly higher, with an opening price of 9,452 CNY/ton and a closing price of 9,570 CNY/ton, a 3.05% increase from September 30. Boosted by the futures market, the spot market price of palm oil in China also rose, with the market average price reaching 9,600 CNY/ton, a single-day increase of over 300 CNY/ton.

Palm oil analysts believe: The recent surge in palm oil prices is mainly due to the catch-up rally during the National Day holiday, as foreign markets pulled up. The price increase is too high, and after the significant rise, a downward adjustment is expected. In the fourth quarter, as palm oil enters its peak season and rigid demand increases, it is predicted that the palm oil market will mainly experience a fluctuating upward trend.