Market Update 4th November 2024
November 4, 2024
Prices for coconut oil started the week strong, ranging from $1,745 to $1,755 per metric…
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!
November 4, 2024
Prices for coconut oil started the week strong, ranging from $1,745 to $1,755 per metric…
October 28, 2024
Price Trends and International Markets International coconut oil prices experienced a slight rebound this week,…
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
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...