Market Update 22nd July 2024
July 22, 2024
International Prices Desiccated Coconut The international price for desiccated coconut remains steady across different regions.…
Palm oil has been trading slightly weaker recently, with continued China lockdowns being the leading cause. Whilst slower seasonal production during November and December monsoons and higher energy costs are all supporting prices, lower demand from the second largest importer, China, is pushing prices the other way.
But after three years of COVID restrictions, traders wonder if China might change its position in 2023.
Soya oil prices have been supported by US demand for Biofuels, which, despite high crop levels, have kept prices boosted.
Will a US recession in 2023 impact demand for Biofuels?
But with high energy costs and increasing interest rates, Coconut oil has been slowly tracking up.
With only seven weeks or so of traditional typhoon season left, the Philippines has escaped any major impact on production; there may be a ceiling to any price increases.
We now see strong interest and bookings for Q1 and Q2 2023 for desiccated coconut. Buyers are keen to cover as overall edible oil prices edge higher, so locking in savings.
With ocean freight still falling and signs it might even hit pre-pandemic levels by the New Year, buyers seem more willing to commit further forward.
Supply remains good, so limiting that upside but still, with rising costs and now rising edible oil prices, how long before prices firm up?
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
July 22, 2024
International Prices Desiccated Coconut The international price for desiccated coconut remains steady across different regions.…
July 8, 2024
The latest update of international prices for coconut products has shown varied trends. Coconut Oil:…
July 2, 2024
Coconut Oil Prices In Europe, sellers quoted prices at $1,388.05 per metric ton (CIF), slightly…
June 25, 2024
Price Updates Coconut Oil Europe: Seller prices slightly decreased to $1,395.50 per metric ton (MT)…
June 12, 2024
Shipping Costs stories are making their way into major news sites. Container costs are at…
June 8, 2024
Shipping The freight rates from China to Europe are expected to reach $10,000 per 40-foot…
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...