Market Update March 7th 2023
March 7, 2023
As Q1 2023 draws towards an end, what have we learnt about the market so…
In the last two days we have seen weaker stock markets around the globe which has pushed into commodity markets including edible oils. Will continued weaker markets means even lower prices for the rest of this week? Also as the EU discusses the possibility of banning Palm Oil from Biofuels after 2020 could we see a major twist on edible oils in Europe with Rapeseed and other oils price rising greatly as a result! For now though Palm oil continues to weaken as crops bounce back pushing prices down. Coconut oil is also weaker tracking other edible oils lower. Its hovering around the mid $1200 level but could we even see it lower still?
Desiccated prices peaked with news of the the volcano two weeks ago but as have been drifting lower as things seem to have settled down. Now with oil weaker so its putting pressure on desiccated prices now. For now strong sales through till second quarter along with still very low supply from Si Lanka is all that’s keeping prices up. It will be interesting to see how prices fair during February but already have news that Indonesian shippers are knocking their prices as they hunt for business.
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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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