Market Update – Wednesday 8th June 2022
June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
The predication that Palm oil will rise all the way through till the summer was made by a number of sources and that we could see record prices levels come June/July. Well Palm has pretty much climbed since that point pushing up other edible oils in its wake. The current dry weather in Asia has been to blame as we see lower crops and so inventories dropping. Coconut oil has risen this week over $100 or over 15% which is really pushing up desiccated prices. Dry weather in the Philippines along with strong sales seem to be to blame. Continued shortages of raw nuts looks set to keep prices firm for some time.
Desiccated prices have risen sharply this week as nervous buyers worried about even higher prices to come book as far forward as possible. But with stories that some major companies are still uncovered there is plenty of buyers out there. Some buyers are rather annoyed that they have missed the lower price levels. What will be interesting is will next week see even higher prices? Certainly is coconut oil goes above the $1700 level that looks almost definite.
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June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
May 6, 2022
Indonesia The ban on palm oil exports put the market in a spin at the…
April 25, 2022
Update from Reuters JAKARTA, April 25 (Reuters) - Indonesia's agriculture ministry said on Monday that…
April 20, 2022
In a post-COVID World with global conflicts and some countries on the verge of a…
March 2, 2022
War by its nature leads markets into uncertainty. And for edible oil markets war in…
January 12, 2022
Due to ongoing Omicron COIVD outbreaks in the Philippines, we are seeing delays in getting…
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