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Mintec Commodity Pricing Update April 26

April 26, 2021

1 mins read

  • • Prices for olive oil from most origins continued to rise as weather issues in Andalusia continue to support; the high rate of selling was also causing concern of a potential lack of supply far before new harvest around November.

  • Sunflower oil moved up slightly from the previous assessment with some buying interest returning, moving FOB Ukraine up by $19.50/mt.

  • • Trading in the almond market was muted ahead of the release of the acreage estimate last week. There were limited offers in the market and many buyers pulled back following the price rises seen on the back of the TNT crop estimate release. The initial Land IQ estimate for 2021 stands at 1,323,722 bearing acres; details on any market impacts of this release will be published in the weekly Mintec Almond Report released on Thursday. If you are interested in receiving this report contact Pricing@Mintecglobal.com.

  • Arabica coffee continued to climb on the exchange with fears of a dramatically reduced 21/22 Brazilian output and continued dry weather stoking fears. Speculators added over 8,000 lots to their net long position as of last Tuesday, and domestic prices for arabica have reached 10-year highs.

  • • The minimum export price (MEP) for vanilla out of Madagascar is still in force and remains at $250/kg.

 

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