Market Report - April 2017

Market report up until April 2017

All percentage changes in this report refer to month-on-month price changes and are provided by Mintec.

FX Rates

Currency against Sterling Opened March Closed March
Dollar 1.22 1.24
EURO 1.16 1.15

Soft Commodities

Sugar prices rose on London ICE (+4%) and ICE US (+1%), supported by the Arabica coffee prices were down on ICE US (-4%), due to speculation of higher supplies in 2016/17 as production is forecast to rise 26% y-o-y. Robusta prices rose on London ICE (+1%), due to ongoing drought conditions in Brazilís main growing regions. Sugar prices fell on ICE US (-9%) and on London ICE (-7%).

Sugar prices fell on ICE US (-9%) and on London ICE (-7%).

Cocoa bean prices rose on ICE US (+11%) and on London ICE (+10%), supported by concerns over lower quality of some of the cocoa beans from Ivory Coast, the main cocoa producer. In the UK cocoa butter prices remained stable (0%), while cocoa powder prices were up (+2%), influenced by higher prices of raw cocoa beans.

Oils and Fats

Soyabean oil prices fell on CBOT US (-6%), in Argentina (-5%) and in Rotterdam (-1%), due to a rise in forecasts for Brazilian soyabean production. Rapeseed oil prices rose in Canada (+4%), but fell in Rotterdam (-4%). Palm oil prices fell in Indonesia (-4%), Malaysia (-3%) and Rotterdam (-1%), due to a recovery forecast for production later this year and falling prices for soyabean oil. Palm kernel oil prices fell in Malaysia (-18%), Rotterdam (-8%) and Indonesia (-6%), due to rising production. Coconut oil prices fell in Rotterdam (-1%), in line with falling palm kernel oil prices, however prices remained stable in the Philippines (0%). Sunflower oil prices fell in Russia (-5%), Argentina (-2%), Ukraine (-1%) and in Northwest Europe (-1%), due to record production in Ukraine and Russia. Extra virgin olive oil prices rose in Spain (+3%) and Italy (+2%), as a result of lower production in 2016/17. Lampante oil prices rose in Spain (+2%). Linseed oil prices fell in Argentina (-5%).

Grains

Milling wheat prices fell on CBOT US (-7%), Euronext Paris (-4%), in Germany (-3%) and on ASX Australia (-2%), but remained stable in the UK (0%). Feed wheat prices rose in the UK (+1%), but remained stable on ICE Europe (0%) and in Hungary (0%).

Ingredients

Hazelnut prices fell in Turkey (-2%). Almond prices were up in the US (+4%), but fell in Spain (-4%). Peanut prices continued to fall across all markets, with declines seen in Brazil (-6%), Argentina (-5%) and the US (-1%). Cashew prices remained stable in Vietnam (0%). Pine nut prices fell in China (-13%). For dried fruit, sultana prices were down in Turkey (-1%), with raisins also falling in Turkey (-3%) and the US (-2%). Dried apricot prices were up in Turkey (+5%). Desiccated coconut prices fell in the Philippines (-2%).

Milk & Dairy

Butter prices rose in the EU (+5%), due to lower milk fat availability and rising demand. EU butter prices rose in the UK (+7%), Germany (+4%), Belgium (+3%), Poland (+2%) and France (+2%). Butter prices rose in New Zealand (+11%), but fell in the US (-7%). Prices for cheese in the EU fell for Emmental (-4%), UK Cheddar (-3%) and Gouda (-1%), but remained stable for Edam (0%) and Italian Parmesan (0%). Elsewhere, cheese prices fell for US Mozzarella (-10%), US Cheddar (-9%) and New Zealand Cheddar (-3%). SMP prices fell in the EU (-8%), due to buyers holding off purchasing large volumes. EU SMP prices fell in France (-14%), Germany (-10%), Belgium (-8%) and the Netherlands (-8%). SMP prices fell in New Zealand (-22%), but rose in the US (+3%). WMP prices fell in the EU (-5%), with prices down in the Netherlands (-9%), France (-8%), Germany (-8%) and Belgium (-7%). Shell egg prices rose in the EU (+6%), due to rising demand leading up to the Easter period. EU shell egg prices rose in Germany (+23%), Spain (+17%), France (+9%), but remained stable in the UK (0%), while falling in Poland (-1%). In the EU, processing egg prices rose for egg yolk liquids (+14%) and egg whole liquids (+9%).

Energy

Light sweet crude oil prices on NYMEX US (-10%) and Brent crude oil prices on ICE London (-9%) fell due to record US stocks, rising production and lower refinery utilisation. Diesel prices fell in the EU (-8%) and the US (-6%), due to good supply and milder weather conditions in Europe limiting demand. Petrol prices fell in the EU (-13%) and the US (-4%), due to stocks of refined products at record high levels in the US. Gas oil prices fell on ICE EU (-9%). Base metal prices on the LME fell for nickel (-7%), copper (-4%) and zinc (-1%), however prices rose for lead (+1%), aluminium (+2%) and tin (+4%).

Market Reports

Search Site

About BAKO

Trade account holders can place their orders on line 24 hours a day 7 days a week making ordering from BAKO even easier. Find out now how easily ordering online from BAKO can be.

Place your Order Now

Bako Products