Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
Crude oil prices have been declining even further as low demand from China and continued world wide glut have pushed the market lower. In turn this has pushed all commodities down even further and edible oils have fallen as a result. Palm oil has fallen to even further lows as a result. For coconut oil the $1000 barrier could fall this week even with demand picking up slightly as buyers start to return from holidays this week.
Desiccated prices have weakened slightly as a result of the weaker coconut oil prices. Now is typhoon season in the Philippines but still for now must seem to feel that the downside is greater then any upside so buyers are waiting to see just how low things can go. Spot prices are slightly out of balance so slightly higher then they could be but this really is carry over of high priced stock. As new stock arrives this price will drift lower.
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March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
March 7, 2024
El Niño In an update from the World Meteorological Organization (WMO) the current El Niño…
February 1, 2024
Shipping The attacks by Iranian-backed Houthi militants on vessels have made travel through the Red…
January 29, 2024
As we get to the end of January 2024, we've started a new year with…
January 5, 2024
Maersk has announced that it will be redirecting all its vessels away from Red Sea…
December 21, 2023
Recent attacks around the Bab al-Mandeb, also known as the "Gate of Tears" in Arabic,…
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