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,…
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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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…
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