Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
Edible oils continue to be weak pinned back by the low crude oil prices. With crude oils low so bio fuels tend not to perform well hence lower edible oil prices. Whilst there are some smaller regional differences as fro bio fuel mixing already some governments are slowing down projected plans for higher blending percentages. Still though underlying this Palm oil production has dipped caused by bad weather and problems with trees. Coconut oil is being dragged down by other edible oils even if demand is actually very much on the up.
Desiccated prices were looking weaker tracking a little with lower oil prices. However demand remains strong and we have seen prices up slightly with some origins as orders trickle into the market. Continued nearby demand is keeping spot prices high along with limited stock held by some shippers. The cautionary note is that everyone is now holding their breath watching and waiting to see how the Euro zone will fair with the recent Greek elections and change of policy as regards repaying debts.
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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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