Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
Tomorrow will see the EU vote on draft amendments relating to Biofuels and Palm Oil. This could be an early signal this year that the EU wishes to push forward with a range of laws designed to curb use of Palm oil that is not produced from a sustainable source. This also comes as Malaysia has suspended export tax in Palm oil. This move designed to help ease the large stockpiles of crude oil in the country. Will higher exports of Palm oil in the first quarter help to push prices lower? Coconut oil continues to hover around the $1400 mark as well tracking these other edible oils. However with Mayon volcano near Legazpi currently rumbling away threatening to erupt prices could be in for some upheaval.
Desiccated prices have begun the year slightly weaker then the end of 2017 but this is likely due to the first quarter always being quieter then the last quarter of the year. But with heavy sales already through till June for the Philippines any weakening is likely to be short lived. Will the Mayon volcano rumbling away cause issues for this year? Some buyers are already questioning any impact this volcano might have on crops this year. We don’t know what impact it will have so will all watch and wait hoping for the best.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
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.…
If you require technical information about our products, then please login here to access the most up to date information...
Let's take a look at this...