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…
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.
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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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