Palm and Coconut oil enter quieter phase

Palm oil prices were weaker last week as continued good crops couple with flat demand edges the market ever lower. Its really though the expectation of good crops that is keeping the market weaker. Soya prices continue to weaken also in the US as high crops along with US trade wars push the market there lower. Drier weather in Europe should be pushing Soya prices much higher but cheap US imports are already affecting the market. Coconut oil business has been quiet of late as general weak edible oils slows trade. There is a large typhoon to East of the Philippine but this is likely to  pass just north of Luzon so damage should be minimal.

Desiccated prices have been flat in the last week as coconut oil holds pretty stable. But we are seeing a slow and steady trickle of business being done as desiccated prices seem to have reached a level that buyers think represents good value. But as we get deeper into typhoon season so the possibility of a major one increases. This weeks typhoon would cause considerable damage if it hit land.