Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
Crude oil prices rose last week as figures showed lulls in US rig figures reaching 19th straight week. Palm oil last week has also seen some upturn in demand which along with increases with Soya has helped firm up edible oils. How long this run will continue is debatable since the market still thinks supply is outweighing demand and will continue through till the end of the year. For now though on Mondays trade prices continue to firm as demand spills over into this week. Coconut oil is safe for now above $1000 mark as it follows the rest of edible oils.
Desiccated remained weaker as supply continued to improve from the Philippines. Low demand at this time of the year along with this good supply has helped push prices lower. But these lower prices have gained quite a level of interest which will help support prices going forward. Add in the turn around in edible oils we could see prices firm up this week.
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March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
March 7, 2024
El Niño In an update from the World Meteorological Organization (WMO) the current El Niño…
February 1, 2024
Shipping The attacks by Iranian-backed Houthi militants on vessels have made travel through the Red…
January 29, 2024
As we get to the end of January 2024, we've started a new year with…
January 5, 2024
Maersk has announced that it will be redirecting all its vessels away from Red Sea…
December 21, 2023
Recent attacks around the Bab al-Mandeb, also known as the "Gate of Tears" in Arabic,…
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