Market Update 21st October 2024
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
Palm oil stocks in Malaysia at the end of August have fallen to a 5 year low. So normally you would expect prices to climb from this news? However with still more news about larger then expected Soya crops in the US along with a slightly weaker crude oil price so prices are actually slightly weaker. Also demand for Palm oil for first week in September is down as well which has also added to prices slightly weaker. But what these figures show is the declining crops for Palm Oil which is expected to continue. If crude oil were to rise or soya crops start to fall then edible oil could come under a great deal of pressure. Coconut oil has been quiet as it tracks other edible oils but we are starting to enter the biggest part of the typhoon season so a lot are watching weather reports.
Desiccated prices have been slightly higher recently as a combination of autumn buying and reduced supply from most origins caused by drier hotter weather earlier this year. This shortage in the Philippines and Indonesia is not expected to improve anytime soon. We can expect maybe even further increases in price as we go deeper into typhoon season.
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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…
September 16, 2024
Coconut oil prices remain firm despite a lack of trading activity in key markets like…
September 9, 2024
Shipping News Container spot freight rates between Asia and Europe have dropped Rates on the…
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