Market Report 14th October 2024
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped sharply by $50.95, settling at $1,711 per metric ton (CIF). This decline contrasts with the previous week’s price of $1,761.95. Despite this drop, the palm kernel oil market showed an upward trend, increasing by $37.50 to $1,541 per metric ton.
Despite fluctuations in pricing, desiccated coconut prices for export have consistently stayed in the range of 80-125¢ per pound FOB for nine weeks, indicating stable demand for this vital coconut product.
European Trade Talks
The Philippines is working hard to expand its European market. Recent trade missions to the Netherlands and Belgium aimed to boost coconut product exports.
Additionally, the Philippines is resuming Free Trade Agreement (FTA) talks with the European Union, aiming to conclude negotiations by 2027 to secure preferential market access for coconut oil and other products. This is essential as the country nears the threshold of breaching its upper-middle-income status, which could disqualify it from the EU’s Generalized Scheme of Preferences Plus (GSP+).
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October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
September 16, 2024
Coconut oil prices remain firm despite a lack of trading activity in key markets like…
September 9, 2024
Shipping News Container spot freight rates between Asia and Europe have dropped Rates on the…
September 3, 2024
Global Price Trends The global coconut oil market has seen a notable price increase after…
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