Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
Palm oil has risen to a 2 year high as dry weather is limiting crops and as a result inventories have declined. Figures for March are expected show crops continuing to decline as stock is expected to be down month on month. However seasonal trends should mean that March production does increase slightly. France have voted in their additional palm oil tax as they seek raise revenues on what they see as an environmental poor edible oil. Coconut oil has continued to rise as all the edible oils have been pushed up because of Palm. Coconut oil is above $1400 and is expected to continue to climb following other oils.
Desiccated has moved up sharply as shippers are concerned about rising oil prices. Some shippers continue to be withdrawn and others are late with shipments already. Prices could climb even further if coconut oil moves above the $1500 level. Limited availability for nearby positions is only making the matter worse.
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March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
March 7, 2024
El Niño In an update from the World Meteorological Organization (WMO) the current El Niño…
February 1, 2024
Shipping The attacks by Iranian-backed Houthi militants on vessels have made travel through the Red…
January 29, 2024
As we get to the end of January 2024, we've started a new year with…
January 5, 2024
Maersk has announced that it will be redirecting all its vessels away from Red Sea…
December 21, 2023
Recent attacks around the Bab al-Mandeb, also known as the "Gate of Tears" in Arabic,…
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