Market Update 21st October 2024
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
So palm oil has hit a 5 month high on the back of reduced crop outlook for January and continued climbing soya oil price. Soya itself has been rising as the current China-US truce which has fuelled increased business from China. But Brexit in Europe and the current US government shutdown could all lead to economic slowdown which would impact on demand for both edible and crude oil. Also Europe’s continued push to reduce Palm oil use will impact demand at some point. So edible oils are slowly firming up but its a long slow process. Coconut oil for now remains unaffected by recent increases in Palm and Soya mainly as supply remains very good and stockpiles are high. But with other edibles slowly rising is it just a matter of time?
Desiccated coconut market has been weak for sometime now. Shippers who heavily invested in increasing production capacity during 2017 are now finding that sales towards the end of 2018 have taken a dip. Reading news reports in the US press here there is a belief that on the back of negative press usage volumes in 2018 slipped compared to previous year. However in Europe usage slipped more because of the high prices at the end of 2017 and first half 2018 which pushed demand down. Whats for sure at the moment there are a number of industrial buyers who have yet to cover bulk business for 2019 as they wait for best possible price. With edible oils up will they now be tempted into the market?
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October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
September 16, 2024
Coconut oil prices remain firm despite a lack of trading activity in key markets like…
September 9, 2024
Shipping News Container spot freight rates between Asia and Europe have dropped Rates on the…
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