Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
Palm oil had been getting slightly stronger recently as production continued to slow but with high stock levels prices were being kept from moving up much. But with the reigniting of Chinese-US trade war on Thursday prices have fallen sharply. Will palm oil be dragged into the war again and just what effect will it have on the market as a whole. China have yet to announce if they will increase duty on US Soy but its likely. With commodity markets around the world falling with the announcement of more US tariffs its likely to be bumpy for a while yet.Coconut oil has yet to react to the new of the trade war but with a current price of $665 which is lowest in 10 years its not much further to fall.
Desiccated prices have not moved much from the current extremely low levels for a while now. But whats interesting is that for the most part all 3 main origins are now within about $200 of each other. The market seems for now to be reflecting that all 3 continue with good supply are very competitive at the moment. But stories of lower supply of raw nuts in Indonesia grow and some shippers there will only offer nearby positions.
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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.…
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