Weaker oils again

Palm oil has been trading lower since the dealers have returned after the holidays. Lower export figures coupled with weak Soya prices have pushed the markets to a two and a half week low. Traders are also concerned that Palm oil production should start to rebound soon which could add even more pressure to prices. Coconut has been holding steady just under the $1200 mark as demand remains firm.

Desiccated has been weaker in the last week as lower prices from Indonesia have been pushing other origins cheaper. Strong production from Philippines has also been helping to weaken prices its only Sri Lanka that’s moved slightly higher but this is down to local lull in production of raw nuts.