Busy week

Well its been a busy week with the Anuga trade fair in Germany. But markets never sleep and that is very true of edible oils. Two stories emerging this week one of record stocks levels in Malaysia and at the same time continued demand for Palm oil as exports increase as well. Crude oil has been down though as continued fear of a glut carries through. Coconut oil has dipped towards the end of the week tracking Palm oil as prices weakened slightly.

Desiccated prices have been firmer lately as coconut oil prices rose above the $1100 level. However as oil prices have weakened slightly so this upward pressure has reduced. Weather will now play an important role as the market looks for direction somewhat.