Palm Oil
• At the close of trading last week, market sentiment in the palm oil market was BEARISH.
• Prices continue to decline as additional supply comes out of Indonesia and Malaysia, whilst demand in major regions such as China and India remain limited.
• The Mintec Benchmark Prices for Crude Palm Oil CIF Rotterdam DH-0 [Mintec Code: CPOR] was assessed at $1,179.50/mt on Friday, down nearly 10% on the week.
Dairy
• At the close of trading last week, market sentiment in the dairy markets was BEARISH.
• The Price assessment for European Mozzarella declined slightly on the week, reaching levels below €5,000/mt for the first time since 16 March. Buying interest was reported to be quiet across Europe.
• The assessment for Mozzarella EXW Europe [Mintec Code: ED27] was made at €4,950 /mt, down €50/mt week-on-week.
Pork
• At the close of trading last week, market sentiment in the European pork market was BULLISH.
• While prices for French, Spanish, and Polish products increased, the German market remained flat on the week.
• Deadweight prices in the European pork market rose slightly, with the Mintec Benchmark Prices for Pig Deadweight Grade S EXW Europe [Mintec Code: BW56] assessed at €1.90/kg at the last assessment on 12 July, up 1% on the week.
Coffee
• At the close of trading last week, market sentiment in the coffee market was MILDLY BULLISH.
• Arabica front month futures prices dipped below Usc 200/lb for the first time since November 2021 as technically driven short selling is being fuelled by concerns about demand as global economies cool.
• Differentials for milds continue to rise. The Mintec Benchmark Prices for Colombian Excelso EP FOB [Mintec Code: CDC1] was last assessed at +81/lb on Thursday, up 1c/lb on the week.
Cocoa
• At the close of trading last week, market sentiment in the cocoa market was NEUTRAL.
• The futures markets continued to trade within technical ranges. SEP22 bounced after closing at £1,684/mt last Thursday, last trading today at around £1,710/mt. European Q2 grindings figures released last week provided some support to prices as markets await US and Asian figures this week.
• The Mintec Benchmark Prices for Cocoa Butter EXW Western Europe spot [Mintec Code: COBS] were assessed at €3,977/mt, unchanged week-on-week.
Almonds
• At the close of trading last week, market sentiment in the almond market was BULLISH.
• The bullish sentiment in the market was driven by a lower-than-expected USDA Objective measurement and strong US almond shipments in June. For further details on the impacts of these data releases, click here.
• Industrial almonds saw scattered trading over the course of the assessment period with trades for standard 5% almonds reported between $1.75-1.80/lb. The assessment for standard 5% almonds FAS US [Mintec Code: NAL1] was made at $1.80/lb on 15 July, up 11 cents/lb on the week and in line with the last reported trade.
