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 this week has weaken recently as supply glut still weighs heavily on the market. Even a drop in US rig count has done little to halt the recent slide in prices. The perception is that the OPEC will continue to ramp up production ahead of a meeting at the beginning of December. The view on Palm oil is mixed as some analysts thinks lower crude oil prices will continue to pin prices lower however other believe that the ‘El Nino’ effect will hamper production enough to push prices up by middle of 2016. Coconut oil for now is tracking other edible oils slightly higher as ‘El Nino’ and earlier dry weather impacts on supply.
Desiccated prices are for the most part firmer across all the supply origins. Smoke/haze seems to impacting Indonesia and Vietnam has buying from China pushing up prices. Sri Lanka also has seen prices slightly higher as demand picks up a little. Philippines shippers are keen to push through even higher increases as concern about higher oil prices next year weigh heavily on them.
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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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