Mintec's pricing team have put together their latest weekly market round-up. You can get in contact with the team by emailing Pricing@mintecglobal.com.
Prices continue to move up on Sunflower Oil with 6 ports already breaking the 1500 USD/mt mark and Black Sea origins have followed in its wake, with the Mintec Benchmark price (MBP) for Sunflower Oil FOB Ukraine was assessed at 1,580 USD/MT on Friday 5/3/21 for prompt delivery.
In the Olive Oil markets, industry participants were cagey ahead of more Spanish production figures being released during the first half of this week as this could potentially be bullish for the market if speculation on a lower yield does come to fruition.
Limited trade was reported in the almond market last week as most buyers have adequate cover and sellers are holding fairly firm on price. An increasing number of market participants have stated their intentions to ‘sit out on the sidelines’ until the end of March after bloom.
The US and EU have stated their intentions to suspend tariffs in the Airbus-Boeing dispute for a period of four months. This includes the 25% tariff currently levied by the EU on US peanut imports.
Madagascan Vanilla prices remain stable at $250/kg FOB Madagascar as the government mandated minimum export price remains unchanged at $250/kg. Indonesian Vanilla for industrial grade 1 continues to trade at a $70-80/kg discount to Madagascar on a Free on Board basis, Mintec Benchmark Prices show.