Mixed signals as Palm Oil dips and rallies

So Palm oil has been tracking Soya in the last few weeks as Soya has been increasing. Soya has been increasing despite record American planting acreage as demand from the likes of China increases. So Palm Oil has been tracking upwards for the last couple of weeks. However with Malaysia dropping Palm oil tax from August onward so prices have been dipping. Coconut oil continues to track other edible oils although as we start to enter typhoons season proper this may change.

Its been quiet recently for desiccated coconut. Demand has started to slip away as buyers start their summer holidays. There has been some booking for the peak season Sept-Nov but its felt there is much more to come. Shippers remain sold out for nearby positions and the spot market is very tight with low stock levels but that is expected at this time of the year. Could an influx of buying push up prices when buyers look at peak positions?? Certainly whats for sure the market does not seem to be weakening much even with lower demand.

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