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 prices have been slightly weaker as news of higher then expected US stockpiles and Saudi Arabia rule out slowing production. Also Palm oil production is up slightly which again was somewhat unexpected. This has all helped to push oils in general lower. Coconut oil is still hovering just over the $1200 level as the weakness from other edibles keep prices pinned back.
Desiccated prices rose in early February but seemed much more stable now. As Coconut oil continues to hover just above $1200 for several weeks now so this stability is being felt with desiccated. The real issue is though is lack of supply. Some Philippine shippers have sold out positions through till June so we are seeing prices from Sri Lanka and Indonesia increasing as they picked some over-spill in demand.
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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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