Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
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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March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
January 30, 2023
We wanted to let you know that one of our client's email accounts has recently…
January 10, 2023
So, what does 2023 hold for desiccated coconut and coconut oil prices, along with prospect…
December 9, 2022
2022 has been a bumpy year for edible oils and desiccated coconut. Coconut oil hit…
November 9, 2022
Uncertain Times Palm oil has been trading slightly weaker recently, with continued China lockdowns being…
November 1, 2022
The Philippines is recovering from tropical storm Nalgae, which caused deadly flooding over the weekend.…
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