Weak weak weak

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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