Lowers oils in general

Weak crude oil prices is still the number one effect on edible oils at the moment. Continued weakness in crude oil is pushing Palm and other edible oils lower despite poor weather in the main Palm countries of Indonesia and Malaysia. Also exports of Palm are down on the low crude prices as traders are concerned of a worldwide economic slowdown caused by the lower crude prices.

Coconut oil is also tracking lower with other edibles oils even through demand has been picking up recently with lower stocks in the Philippines. Demand for desiccated has been picking up in the last week or so. Philippine shippers have stuck to their prices since before Christmas but Indonesian shippers have been discounting theirs. The result is that as Indonesian shippers have sold out which has meant demand has spilled over into the higher priced Philippine market. Enquiries are steady for March/April shipment which would indicate that prices will remain where they are for a while yet.

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