Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
Currently, the edible oil market is following the crude oil market trends. However, the crude oil market is being held back due to economic uncertainty caused by high-interest rates. It remains to be seen if the crude oil market will rebound if interest rates stop increasing during the summer or if rates need to decrease later this year or early next before the crude oil market can improve.
Predictions for the Palm oil crop market in 2023 are mixed. While prices are expected to be lower due to increased supply from some locations, the upcoming El Nino weather pattern may negatively impact crops in other areas. It is uncertain if lower demand due to economic difficulties and better crops will cause prices to drop or if bad weather will reduce supply enough to keep prices high.
The desiccated market is currently quieter than usual, with weaker demand and buyers already well-supplied.
Q3 has seen some larger buyers making purchases, but mid-sized companies are hesitant to enter the market after experiencing losses last year.
High-interest rates will likely continue to impact demand, regardless of weather conditions.
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March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
March 7, 2024
El Niño In an update from the World Meteorological Organization (WMO) the current El Niño…
February 1, 2024
Shipping The attacks by Iranian-backed Houthi militants on vessels have made travel through the Red…
January 29, 2024
As we get to the end of January 2024, we've started a new year with…
January 5, 2024
Maersk has announced that it will be redirecting all its vessels away from Red Sea…
December 21, 2023
Recent attacks around the Bab al-Mandeb, also known as the "Gate of Tears" in Arabic,…
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