Palm oil, three consecutive declines

2025-03-26

On March 26th, the Malaysian crude palm oil (CPO) futures market has been somewhat underperforming in recent days. Palm oil trader David Ng revealed that due to the emergence of cheaper vegetable oil alternatives in the market, concerns about weak demand in the coming weeks have intensified, causing crude palm oil futures contracts to decline for the third consecutive day. Although he expects the support level to be around 4,150 ringgit per tonne and the resistance level to be at 4,380 ringgit per tonne, the market doesn't seem to be very receptive.


As of the close, the April 2025 contract fell by 25 ringgit, closing at 4,564 ringgit; the May 2025 contract dropped by 55 ringgit, falling to 4,377 ringgit; and the June 2025 contract also unfortunately declined by 60 ringgit, closing at 4,245 ringgit. As for the July 2025 contract, it fell by 52 ringgit, leaving 4,146 ringgit. The August and September contracts followed suit, dropping by 44 ringgit and 38 ringgit respectively, to 4,081 ringgit and 4,045 ringgit. The physical price of southern crude palm oil in April also didn't lag behind, decreasing by 20 ringgit and finally closing at 4,680 ringgit. This wave of fluctuations is likely to make even seasoned futures traders' hearts race a bit.


Despite the market facing pressure, some people still predict that there will be opportunities for crude palm oil to recover in the future. Just like stocks, occasional declines are part of the adjustment. After all, everyone knows that doing business can't always be smooth sailing. Whoever can first anticipate the market's rebound will be able to reap the victory in this "comeback against the odds".

将上述英文翻译成中文

帮我润色一下这段英文翻译。

请再提供一些与棕榈油期货市场相关的英文词汇。


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