Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
Like most of the world, Asia and the Philippines continue to battle COVID-19.
The initial lockdown in the Philippines has already been extended twice and now stands until May 15th. Some measures may be relaxed after then, in areas where the virus appears under control. But the overall lockdown is likely to be extended further.
Off the back of this, the Philippine economy has shrunk in Q1 2020 for the first time in 22 years.
Primex staff and management continue to work hard as they battle to bring production back up to date. Progress is being made; production is improving from about nine weeks behind to about seven weeks as of May 7th. However, with the lockdown still in place, it’s a daily struggle for supplies of raw nuts and to safely get staff to work.
We continue to work with Primex to produce and ship those most urgent orders.
We will do our best to inform clients at the earliest opportunity for production and shipments for their goods.
Supply and production capacity will likely be running at a lower rate into the summer.
Already we have seen significant orders for July, August & Sept, so with reduced production capacity, we will likely have to close off these positions shortly.
The main UK offices for TM Duché are closed on 8th May 2020 for a local Bank Holiday.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
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.…
If you require technical information about our products, then please login here to access the most up to date information...
Let's take a look at this...