Tricky

Market at the moment could be described as complex to say the least. Soya prices have been rising on the back of strong demand along with poor weather reports. Palm has tracked slightly higher with Soya but has drifted down on the back of high stock piles being carried over. Whilst demand for Palm remains firm so crops are still good so stocks have yet to fall. Coconut oil has hovered still just over the $1100 level as it tracks other oils but supply there too remains goods.

Its the good short term supply of raw nuts which is weighing down the desiccated market. It means very good supply and shipments for June/July/Aug are predicted to be high. But El Nino is not far round the corner but has yet to really have any impact on pricing. Prices are expected to remain weak as other origins such as Sri Lanka and Indonesia seek out buyers whilst crops levels are so good. They have been missing out on sale recently since Philippine shippers dropped there prices grabbing biggest share of the market.