Latest Market News March 18th 2024

 Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a price not seen on the Rotterdam market since September 2022.

What were the causes? 

While there is no single cause of the increase, we are seeing Cruel oil prices increasing due to increased demand for palm oil, which is in shorter supply due to lower crop yields. 

The overall market sentiment is that many countries are about to come out of recession, pushing up demand and prices further.

What Next? 

We expect this price increase to spill over into other coconut products like desiccated as perceived demand increases and supply becomes further limited.

We know that some suppliers are playing catch-up from closures earlier this year and that any stockpiles have been used up.

The effects of the shipping delays mean many people are buying way in advance of the requirement to ensure consistency of supply over price, further putting pressure on the market.