Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
A complicated oil market at the moment. Palm oil is weaker again at the moment being driven down by lower export volumes and the seasonal pickup in crops. Low crude oil also is helping to hold all the edible oils lowers as the glut continues. However a number of analysts still believe that Palm oil prices will move higher into the summer as lower yields caused by the El Nino effect continues to hamper crops. Coconut oil is hovering around the $1550 level on limited trading. But with Philippine Elections in couple of weeks time trading is expected to be quiet at the moment. Those election results could prices in either direction.
Desiccated prices have remained steady for the last week although with very limited interest. Buyers are waiting to see if prices fall back even further if edible oils drift lower. Nearby demand though has been strong with many sold out of May and June. Some larger shippers remain withdrawn for anything further then June due to concerns over market direction.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
January 30, 2023
We wanted to let you know that one of our client's email accounts has recently…
January 10, 2023
So, what does 2023 hold for desiccated coconut and coconut oil prices, along with prospect…
December 9, 2022
2022 has been a bumpy year for edible oils and desiccated coconut. Coconut oil hit…
November 9, 2022
Uncertain Times Palm oil has been trading slightly weaker recently, with continued China lockdowns being…
November 1, 2022
The Philippines is recovering from tropical storm Nalgae, which caused deadly flooding over the weekend.…
If you require technical information about our products, then please login here to access the most up to date information...
Let's take a look at this...