Mixed news

The oil market is a real mixed bag at the moment. Weak Soya has been pushing down other edibles oils along with weak crude prices as well. Add in the fact that Malaysia has now introduced duty from 1st April and Indonesia is now also considering export duty taxes as well. But with coconut oil prices now nearing the same level as Palm oil demand is now heading up. Coconut is now being seen as good value so prices should start to stabilize in relation to other edible oils.

Desiccated also seems to be very mixed. Sri Lanka prices have been getting firmer as they are in low season fro crops. Indonesia prices are have remained unchanged as they are seen as the cheap origin. Philippines prices have remained weaker as they compete with Indonesia for some business. But business is there and now being done but the market remains weak as everyone watches oil to see where the bottom is.