Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
In the Philippines, the government quarantines have gotten stricter, with passes being issued to let just one person per household out to buy essentials. And special passes for key workers including food productions workers.
And with the changes to the transport infrastructure put in place last week, personal travel is limited.
Primex has set up shuttle services for its workers, but this has limitations to cover the entire workforce.
All Primex factories and workspaces are now practising enhanced social distancing, along with the extra disinfecting procedures for staff entering the factories,
These things are affecting production capacity. Factories are still operating, however currently only at 50% of total capacity, and transport to and from factories, also being affected by the quarantine.
Currently, there is no available stock of Coconut Flour or Coconut Milk Powder.
In the longer term Primex are continuing to look at ways to get staff safely to work and ensure that we can get products to and from factories and to ports.
We believe that production will remain below capacity until at least the 13th April, when the current quarantines laws end.
Thank you for your understanding and will keep you updated.
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