Palm & Veg Report, March 2017
How many ways can you describe a poor freight market without the use of an expletive?
There were no major revelations to report about last month and virtually all of the edible oil trade lanes are currently trending at either similar or slightly below the values seen a month ago. The POC conference in Malaysia kept most of the industry busy earlier this week one way or another and the palm oil markets are still expected to grow substantially in 2017 which can only be positive. World food demand is also expected to rise by 3 million tonnes this year and bio diesel demand could potentially match that figure unless the United States and Indonesia's biodiesel regimes change. The sun flower oil markets out of Black sea and Soybean oil markets out of South America have been reasonably busy of late and there have also been a surprisingly healthy number of tropical oil cargoes fixed out of Asia and Central America in March.