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 has been weaker in recent weeks as oversupply weighs down the market. However prices have been creeping up recently as inventories have been lower. But still oversupply will keep prices pegged lower. Palm Oil has failed this year to hit highs that were predicted at the beginning of the year. And whilst predictions are that forward prices will have to rise nearby positions remain much weaker. Coconut oil also seems to be tracking this nearby weakness at the moment. Although husked nut prices are rising at the moment as demand is picking up a little which might push into coconut oil prices.
Desiccated has been firming up recently on freight rates increases and heavy sales for nearby positions. Although good supply is keeping prices from going up too much. Expect prices to increase some more as further freight charges are brought in and as we start to see typhoons in the Philippines.
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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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