Firmer

The edible oil market moved up sharply yesterday in Europe. Stronger Soya prices along with a dip in Palm Oil stocks in Malaysia took the market slightly be surprise. After the recent lull in the market this pick up in demand pushed markets up. The main demand seems to come from China ahead of their mid autumn festival. Coconut oil followed the trend jumping nearly $100 on this upturn. The question is will this last?

August tends to be quiet for desiccated sales and this one is no different. Shippers have knocked their prices slightly to try to tempt buyers in however with most taking holidays business is limited. However with recent jump in coconut oil prices might firm up and interest will also pick up as must return towards the last last week of the month.