Market Update – 9th November 2022
November 9, 2022
Uncertain Times Palm oil has been trading slightly weaker recently, with continued China lockdowns being…
The Philippines is just coming out of the third major typhoon in five weeks, there has been significant flooding, long term power outages and major wind damage and unfortunately losses of life.
While businesses in the Philippines are no stranger to typhoons and have major planning infostructures in place to cope with the typhoons, there are inevitable breaks in production, that cannot be avoided, caused by all the above and the most important thing is the safety of the senior staff from the main offices in Manilla to all the working on the factory floors.
The farmers are also massively affected, plus the damage to the crops (not just coconuts and bananas) that then need to recover from.
Ships are delayed, as ports are closed as the typhoons pass over and staff stay at home.
Right now, we do not know the full extent of any damage caused by the latest typhoon.
All we can say is that current delays will inevitably get a little longer and that it is not the end of the season (last year’s season lasted into the very beginning of January).
We are now seeing prices increase rapidly across desiccated and oil and shipping charges are going up as well.
Waiting to place orders is no longer a good strategy for the rest of 2020.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
November 9, 2022
November 1, 2022
The Philippines is recovering from tropical storm Nalgae, which caused deadly flooding over the weekend.…
September 26, 2022
Typhoon Karding / Noru, the most powerful Typhoon to hit the Philippines this year, made…
September 8, 2022
After the long hot, dry summer in Europe, inflation has become the major talking point;…
August 10, 2022
Several factors have affected edible oils in the last week, with most adding to the…
July 27, 2022
An earthquake has hit the northern Philippines, in the lightly populated province of Abra, in…
If you require technical information about our products, then please login here to access the most up to date information...Let's take a look at this...