Market Update – Wednesday 8th June 2022
June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
Last weeks signally from President Trump that America would withdraw from Paris agreements has had a very de-stabilising effect on oils markets in general. Add in political instability over Qatar and the market becomes very hard to speculate. Concern that America could soon start increasing oil production and the possibility that OPEC disagreement could also lead to production increases have pushed crude oil price below the $50 a barrel mark. At the moment its these factors which are driving all the edible oils lower. Even with news that demand for Palm oil is up and production lower so pushing stocks in Indonesia lower. Other news about Palm is that sustainable Palm oil production has now hit 21% of world wide production as slowly the market moves to consumer and government demand. Coconut oil has tracked other edible oils lower as production remains good but demand high.
Desiccated prices had firmed up recently as more demand spilled into the market. Its Sri Lanka continued struggle with low raw nuts along with Indonesia also having supply issues has helped to push prices up slightly. With shippers sold out now through till August at the earliest and even then supply limited its unlikely the prices will dip anytime soon either.
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June 8, 2022
As the war in Ukraine pushes past the 100-day mark, it might be a good…
May 6, 2022
Indonesia The ban on palm oil exports put the market in a spin at the…
April 25, 2022
Update from Reuters JAKARTA, April 25 (Reuters) - Indonesia's agriculture ministry said on Monday that…
April 20, 2022
In a post-COVID World with global conflicts and some countries on the verge of a…
March 2, 2022
War by its nature leads markets into uncertainty. And for edible oil markets war in…
January 12, 2022
Due to ongoing Omicron COIVD outbreaks in the Philippines, we are seeing delays in getting…
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