Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
Firstly Malaysia has stepped in to end the zero tax on Palm oil so from 1st April tax will be levied at 4.5%. Also Indonesian government has announced plans to blend more Palm oil for bio-fuels this year in an attempt to shore up prices by increasing local demand. Could this now signal an end to the recent slide in edible oil prices? But with crude still hovering around the $55 level will any of these make a difference? Coconut oil continues to weaken as crops continue to recover with price hovering just over the $1000 level.
Desiccated prices have been weaker recently as supply has continued to improve. The caution is in the fact that the market has been quiet for a while and weaker prices have some interested. With budgets at the end of 2014 showing prices much higher covering now would be a good move against budget figures. Some are holding out to see just how low that market will go but with Sri Lanka prices heading upwards how long will buyers wait?
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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.…
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