Market News 19th April 2024
April 19, 2024
The weather has been in the news this week, with massive storms in the Gulf…
Firstly sorry for the absence of reports in the last 2 weeks. I had intended to post an update during the INC Congress in the US but meetings and time took there toll. In reality also the market has been more subdued at the moment anyway. Palm oil prices have been down a little on the back of weaker competing oils, lower export volumes and increased crops. Whilst stronger crude prices have provided a stable base level of edible oils small perceptions in demand crops have edged prices up slightly and then back down again. Coconut oil supply remains good and raw nuts supplies in the Philippines seem to be returning to good levels. Prices for coconut oil have been hovering just above the $1400 level and suspect they will continue.
Desiccated prices have been stable over the last couple of weeks if not slightly lower as supply is good and demand steady. There are more enquires though for peak season Aug-Nov which may put a bit of pressure on the market in the near term.
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April 19, 2024
The weather has been in the news this week, with massive storms in the Gulf…
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
March 7, 2024
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January 5, 2024
Maersk has announced that it will be redirecting all its vessels away from Red Sea…
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