Market Update – Wednesday 8th June 2022
June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
In a move that has surprised some traders Malaysian government has kept export tax on Palm oil at zero for March extending the tax free period which first started in October last year. This is seen an attempt to support prices until demand starts to rebound which is predicted for 2nd quarter of the year. But with crude oil price edging above the $60 level it maybe that more support comes from there. Coconut oil has been hovering above the $1100 lever closing Friday at $1150 on nearby demand.
Desiccated prices are still caught somewhat between the origins.Indonesia remains very cheap caused by strong supply if raw nuts which in turn is being caused somewhat by low crude oil prices. But the Philippines has a much greater and more diverse oil business which means they still have greater demand for raw nuts keeping their prices higher. At the moment nothing much is changing but we are in the low demand season so for now Indonesia can cope with extra requirement but what happens as business picks up towards the summer?
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June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
May 6, 2022
Indonesia The ban on palm oil exports put the market in a spin at the…
April 25, 2022
Update from Reuters JAKARTA, April 25 (Reuters) - Indonesia's agriculture ministry said on Monday that…
April 20, 2022
In a post-COVID World with global conflicts and some countries on the verge of a…
March 2, 2022
War by its nature leads markets into uncertainty. And for edible oil markets war in…
January 12, 2022
Due to ongoing Omicron COIVD outbreaks in the Philippines, we are seeing delays in getting…
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