Market Update – Wednesday 8th June 2022
June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
The headline news from last week is Indonesia decision to increase Palm oil export tax from $3 to $18 from 1st February. This is a measure to protect domestic buyers from rising prices and slow export trade. This action is really on the back of strong prices already fro 2017 and prices that seem likely to continue to rise as crops continue to fall below expectations. With rising prices for competing Soy on the back of new US president and his protectionism policies. Add in currency weakness in Malaysia and you can see why prices are hitting highs. But what if America does bring in a import tax on Palm Oil? Will prices fall quickly? Coconut oil has been tracking other edible oils higher but also tight supply caused by end of year typhoons is also helping to push prices even further.
Desiccated prices have been much firmer of late tracking coconut oil prices. However strong supply from new start up mills in the Philippines and competition from Indonesia are all keeping prices from running away. In fact news that one Philippine shippers has a warehouse full of stock to sell is keeping prices much lower then we would of expected. The warning is that this extra supply might not last too long.
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June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
May 6, 2022
Indonesia The ban on palm oil exports put the market in a spin at the…
April 25, 2022
Update from Reuters JAKARTA, April 25 (Reuters) - Indonesia's agriculture ministry said on Monday that…
April 20, 2022
In a post-COVID World with global conflicts and some countries on the verge of a…
March 2, 2022
War by its nature leads markets into uncertainty. And for edible oil markets war in…
January 12, 2022
Due to ongoing Omicron COIVD outbreaks in the Philippines, we are seeing delays in getting…
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