Stronger oils

Sorry for the late report this week but its been busy with UK Elections along with it being short week because of Bank Holidays. But what we have seen this week is that edible oils have continued their short time rally. Pushed by the Indonesian export duty levy along with still firm Soya has all pushed prices up even further. Crude oil is somewhat at odds though as traders worry about political issues in places like Yemen and Iran. Coconut has pushed above the $1100 level as it tracks other edible oils.

Desiccated prices seem to have stabilized somewhat as buyers cover short positions. In fact due to the current low in desiccated prices some buyers are covering through till the end of 2015. But with enquiries already for 2016 from a few sources maybe prices are near the bottom based on oil at the moment.