Weaker Soya push Palm oil price down

Last weeks industry conference pointed that Palm prices are likely to dip over the summer as crops continue to bounce back from last years dry weather. However recent figures for February and early March have shown that crops are still dipping at the moment. But demand is also down and recent weakness in Soya has spilled over into Palm and other edible oils. This has also helped to push coconut oil prices lower now dipping under the $1500 level. Its likely that coconut oil will remain weaker now over the summer period.

Desiccated prices have remained stable despite the drop in oil prices recently. Strong demand has been helping to keep prices up and with shipment positions sold out through till end May its likely that prices will remain firm for a while yet. Quite simple demand for now continues to outstrip supply!