Demand worries

The upward pressure on edible oils weakened towards the end of last week as worries over falling demand and rising stock weighed the market down. Figures looking at exports during early June showed a small increase but at the same time some key buyers demand dipped. However this week could see return to upward movement as information about slow Soya planting in the US and declines in Palm oil production should help to push the market higher. Coconut oil prices are stable at the moment held in place by low PKO prices and also increasing export figures fro April.

Desiccated prices have plateaued for now as renewed interest in coconut has kept Philippine prices from weakening with strong sales for both July and Aug. In fact some shippers are now fully sold fro July with little available for August. However this week could be quiet as Europe watches to see the outcome of the current Greek financial crisis and how this will impact the Eurozone.