RP coconut prices may move sideways<\/p>\n
MANILA (Reuter): Coconut oil prices are expected to move
\nsideways this week ahead of the Easter holiday, Manila vegetable
\noil traders said yesterday.<\/p>\n
Traders also said the annual convention of oilseeds processors
\nin the United States on March 19 to 21 would keep trading volume
\nlow.<\/p>\n
"Most of the players are attending the convention. Don't
\nexpect many trades this week and next as everybody seems to be
\ntaking an early Easter holiday," said one senior vegetable oil
\ntrader.<\/p>\n
Traders said increasing coconut production from both the
\nPhilippines and Indonesia had depressed prices of coconut oil by
\nan average of US$20 per ton last week.<\/p>\n
"Copra output is picking up in the Philippines, particularly
\nthe southern Mindanao island. So is production in Indonesia,"
\nsaid one trader.<\/p>\n
"But despite increasing output from both countries, I don't
\nexpect Rotterdam stocks of coconut oil to increase tremendously
\nfrom current levels," the trader added.<\/p>\n
Coconut oil stocks in Rotterdam increased to 26,705 tons on
\nMarch 10 compared with 18,826 tons the previous week.<\/p>\n
Traders said they do not expect many major ships carrying
\ncoconut oil to dock in Europe next month.<\/p>\n
"So far there were reports of small ships carrying 7,000
\ntons each delivering ships next month," said one trader.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-coconut-prices-may-move-sideways-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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