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,…
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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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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