Market Report - June 2017

Market Report Up until June 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 May Closed May
Dollar 1.292 1.288
EURO 1.184 1.147


Sugar prices declined on ICE US (-8%) and on London ICE (-6%). Global sugar Brent crude oil prices fell in ICE London (-1%) after OPEC supplies rose in May as production from Nigeria and Libya increased, despite the extension to production cuts between OPEC and non OPEC countries.

Diesel prices rose in the EU (+1%), along with petrol prices in the EU (+4%), on the back of rising demand.


Sugar prices were down on ICE US (-3%) and London ICE (-3%), due to expectations of large global supplies this year.

Cocoa bean prices rebounded from lows seen at the beginning of May and rose on ICE US (+14%) and London ICE (+13%). Despite the latest increase, cocoa prices remain lower y-o-y due to expectations of a large global production in 2016/17. Cocoa butter prices were up in the UK (+6%), while cocoa powder remained steady (0%).

Oils and fats

Soyabean oil prices fell in Rotterdam (-2%), due to high stocks after good production during the 2016/17 season. However, soyabean oil prices rose in Argentina (+2%), due to a new possible legislation banning exports to the US. Rapeseed oil prices fell in Rotterdam (-3%), due to large imports from Australia, however prices remained stable in Canada (0%).

Palm oil prices rose in Rotterdam (+1%) and Malaysia (+1%), due to high demand keeping global stocks low.

Palm kernel oil prices rose in Indonesia (+18%) and Rotterdam (+6%). Coconut oil prices rose in Rotterdam (+1%) and remained stable in the Philippines (0%).

Sunflower oil prices rose in Russia (+2%), Argentina (+1%) and the Ukraine (+1%), due to seasonally declining stocks.

Extra virgin olive oil prices rose in Spain (+2%) and remained stable in Italy (0%). Lampante oil prices fell in Spain (-2%).


Milling wheat prices fell on CBOT US (-4%) and Euronext Paris (-2%), due to increased European production, now forecast up 4% y-o-y at 151m tonnes.

Milling wheat prices also rose in Germany (+1%) and the UK (+1%).

Oats prices rose on CBOT US (+8%) and in Finland (+3%). Rye prices also rose in Finland (+1%).

Dried fruit and nuts

Hazelnut prices rose in Turkey (+8%), supported by buying activity from Turkish Government.

Almond prices fell in Spain (-6%) and the US (-2%). Peanut prices continued to fall in Argentina (-2%) and Brazil (-2%), but prices rose in the US (+1%).

For dried fruit, sultana prices rose marginally in Turkey (+1%). Raisin prices rose in the US (+8%), but fell in Turkey (-1%). Greek currants continued to increase in value as demand is out stripping supply this season.

Desiccated coconut prices rose in Philippines (+12%).


Butter prices rose in the EU , due to rising demand and tight milk fat supplies. EU butter prices rose in Germany (+23%), Belgium (+19%), France (+18%), the UK (+17% ).

Prices for cheese in the EU rose Mozzarella (+8%) and Cheddar (+7%), while New Zealand cheddar prices also rose (+2%).

Low EU SMP prices stimulated demand, causing prices to rise in the EU (+5%). WMP prices rose in the EU (+6%), due to rising demand for milk fat products

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