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,…
Some traders are wondering could we be about to see a run on edible oils. Several factors point this way as some crops are lower then expected and there is increased demand as a result. July crops figures for Malaysian palm oil were not as high as expected. India is likely to have greater demand for imported edible oils as poor weather conditions there hamper local crops for Soybeans. Cooler US weather has also raised concerns about crop yields there as well. And tensions in the Gulf might tighten crude oil supply for some time to come. We might just see then more of a run on edible oils as all these factors take hold. Coconut oil is hovering around the $700 mark but any major increase would be a strong indication that we are moving away from the current market low. Certainly at the moment there is far more of an upside then any down with all the current information.
Desiccated coconut continues for now with oversupply holding the market back. But already there have been signs of slower production from Indonesia and a small price increase as well. In turn Philippine prices have levelled to just above Indonesian which is starting to draw in more demand. But some Indonesian shippers are starting to run a little late which is worrying buyers about defaults if the market moves up too much. Strong buying is now already being reported for Q1 and Q2 2020.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
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…
If you require technical information about our products, then please login here to access the most up to date information...
Let's take a look at this...