Market Update 21st October 2024
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
Last week Biofuels were the hot topic of discussion and also driving the market. Last month the US announced that they would look for a 50% increase in biodiesel blending by 2017. During the week Malaysia then joined Indonesia in announcing that they will now aim for a blend percentage of 10% up from the current 5-7%. Indonesia announced early this year they would aim for a 15% blend. But stock piles of edible oils remain high along with good crop production which have helped to stop prices running away. Also the comment that all these are targets set without much detail on how they will be met. Coconut oil has continued to hover around the $1130-50 mark as current good supply is mixed with dry weather in Philippines which will hit production towards the end of this year into first quarter 2016.
Desiccated prices remain weak at the moment as a continued glut in supply weigh’s down the market. With cheaper sources of VCO coming from Sri Lanka, Indonesia and even Vietnam pushing down those prices as well. But with the dry weather in the Philippines at the moment just how long will this glut continue for?
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October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
September 16, 2024
Coconut oil prices remain firm despite a lack of trading activity in key markets like…
September 9, 2024
Shipping News Container spot freight rates between Asia and Europe have dropped Rates on the…
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