Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
So crude oil continues to weaken even further and with news of Iran’s oil production will now enter the world market its moving even lower. Dropping on trading today below $28 a barrel. So whilst Palm Production is starting to slip mainly caused by ‘El Nino’ prices are falling as demand for edible oils weakens because of the crude oil price. Coconut oil prices are rising slightly as lower crops impacts prices but weaken edible oils in general is keeping prices from running away. Coconut oil does not share the same bio-fuel demand so its not as susceptible to weak crude as Palm Oil is. Low nuts supply is slowly forcing up prices.
Desiccated prices are slowly climbing as well. There have been rumors swirling round of a number of containers of desiccated contaminated with Salmonella in Germany which is driving some buyers to the safety of Philippine material. SO whilst prices from Indonesia are rising Philippine prices are rising faster. Only Sri Lanka price is dipping as very low freight rates and weak Middle East demand push there prices lower.
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March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
January 30, 2023
We wanted to let you know that one of our client's email accounts has recently…
January 10, 2023
So, what does 2023 hold for desiccated coconut and coconut oil prices, along with prospect…
December 9, 2022
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November 9, 2022
Uncertain Times Palm oil has been trading slightly weaker recently, with continued China lockdowns being…
November 1, 2022
The Philippines is recovering from tropical storm Nalgae, which caused deadly flooding over the weekend.…
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