Market Report – Is it really all Doom and Gloom?
May 6, 2022
Indonesia The ban on palm oil exports put the market in a spin at the…
As we mentioned in our last report, Manilla is on heighten lockdown. Moving around Manilla and its suburbs is problematic, meaning some factory workers struggle to get to work easily. There is also a lot of office staff working from home, which is not ideal.
Remembering that just over 5.5 million Filipinos have been fully vaccinated, just 5% of the Philippines population, these restrictions will continue long after we are back to normal.
With the demand across Europe and the US still at record highs, even over the usually quieter summer months, we are now nearly full for November and December, and October shipments are sold out.
Shipping costs are still at record highs and are not liable to come down this year and probably next – there was a report last week that shipping costs to the US from China were $20,000!!
With many businesses holding out on ordering until shipping prices drop, this plan looks to have backfired with higher shipping costs and no availability. There is likely to be a struggle to get raw materials, further inflating prices into Quarter 4.
Get in touch with us as soon as you can, if you have not ordered or have been delaying, to go through your options.
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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…
January 6, 2022
Commodity Prices in 2022 As we enter 2022, commodity prices continue to be at an…
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