Palm & Veg Report, October 2017
There has been an abundance of bad news for most of 2017, and we know that bad news often sells better than good news but for change we are pleased to be able to report some good news especially on some of the markets East of Suez. CPP shipments from the AG were recently described as spicy, tropical oil shipments have been bursting with activity across all sectors and we have even seen an up tick in the chemical markets in Asia, partly attributed to the recent weather disruptions in the US Gulf. Unfortunately the CPP markets in the Atlantic are currently averaging US$ 5/6,000 dollar p/d so those markets are continuing to flounder and the phosphoric acid flows from North Africa to India have been heavily disrupted recently. We would be lying if we said the chemical and edible oil markets in the West have been strong because they have certainly not been very exciting but certain sectors have been described as 'better than expected'.