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Mintec Pricing Update - 18 July

July 18, 2022

3 mins read

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.

Topics: Pricing
Pricing Team
Pricing Team

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