U.S. Gulf Coast palm oil cash prices continue to linger in the mid-40s cents per pound, in step with ongoing weakness in the wider edible oil futures markets. Since the end of July, Gulf palm oil spot values are down about 10 percent, nestled in a range around 45 cents per pound. Since the start of January, Gulf palm oil values are down almost 17 percent from 54 cents per pound.
Increased buying interest from major destination markets boosted prices to 50 cents per pound in the summer. However, a subsequent drop in demand from two of the world’s largest buyers, China and India, caused prices to quickly erode in August and much of September.
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12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
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Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
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US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
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