Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
Crude oil this week has weaken recently as supply glut still weighs heavily on the market. Even a drop in US rig count has done little to halt the recent slide in prices. The perception is that the OPEC will continue to ramp up production ahead of a meeting at the beginning of December. The view on Palm oil is mixed as some analysts thinks lower crude oil prices will continue to pin prices lower however other believe that the ‘El Nino’ effect will hamper production enough to push prices up by middle of 2016. Coconut oil for now is tracking other edible oils slightly higher as ‘El Nino’ and earlier dry weather impacts on supply.
Desiccated prices are for the most part firmer across all the supply origins. Smoke/haze seems to impacting Indonesia and Vietnam has buying from China pushing up prices. Sri Lanka also has seen prices slightly higher as demand picks up a little. Philippines shippers are keen to push through even higher increases as concern about higher oil prices next year weigh heavily on them.
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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.…
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