Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
The current issue with Palm oil and edible oils in general is demand. Whilst we can make relatively good predication about how crops will fair at the moment because of droughts and ‘El Nino’ what’s proving much harder in demand. Now through in Brexit and things get very complicated. The uncertainty that Brexit has created is already impacting on currency markets and stock markets alike both not in a good way. Its too early to tell yet but this will likely see a downturn in demand for June/July for edible oils. How far this demand will dip its the key to see if prices for edible oils can hold firm or if as some predict push them lower. It has to eb said some buyers have bought on Friday in case of major upheaval in prices. Most however want to see if the markets get pushed lower.
Desiccated prices for now remain unchanged along with edible oils. However its likely in the short term demand will dip for all commodities and doubt coconut will escape. For some its an easy aspirational product they can quickly leave behind if they buyer is watching what they spend. Buyers are withdrawn mainly now as they watch and wait for the market.
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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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