Quiet week

This week tends to a relatively quiet week as world oil traders make there way to Kuala Lumpur for the 27th Global Palm and Lauric oils conference. Starting Monday we can expect keynote speeches about from a number of key players about the prospects for the Market in 2016/17. A key point this year is expected slow down in the global economy which will hit prices even with crops in key oils either declining or recovering from weather events. Coconut oil continues to hover just over the $1200 level with supply of raw nuts hampering prices at the moment.

A number of key shippers of desiccated are expanding their production capacity in 2016. How this will effect the market is not known yet but Philippine shipments of desiccated are expected to rebound in 2016 showing marked improvement over 2015 levels. For now prices are flat as shippers have strong order books up until 2nd half of the year so see no need to be fighting for business.