<img alt="" src="https://secure.item0self.com/192027.png" style="display:none;"> Top Stories

Mintec Pricing Update - 2 August

August 2, 2021

1 mins read

 

Here is the Mintec Pricing update for the past week. Feel free to get in touch if you have any questions:

• In the almond markets, trade on the kernel side was generally limited with most sellers focusing on the continued strong inshell sales to India. The current price for nonpareil inshells (NPIS) is very attractive with NPIS 70% SS being traded at $2.34-2.40/lb for August shipment and $2.30-2.35/lb for Q4 2021 on 29 July. One almond seller stated – ‘At the moment we are almost solely focused on inshell, when you convert some of the prices we are getting to kernel equivalent it comes in around $3.28/lb. With that kind of premium selling NPX simply isn’t worthwhile for us at the moment.’

• Palm oil saw some upside moves last week with the Mintec Benchmark Prices for Crude Palm Oil CIF Rotterdam gaining $12/mt. Market participants reported to Mintec that continued Malaysian production issues due to Covid-19 were causing a real lack of supply, proving constructive for prices.

• Sunflower oil continued to show strength, moving higher from most origins; SFOR Sunflower Oil 6 Ports option gained $35.50/mt whilst SOB1 Sunflower Oil FOB Black Sea gained $10/mt. Markets players reported that sunseed and sunoil stock was running very low and this was causing a minor scramble for supply as many buyers are still short and buying hand-to-mouth due to a lack of consignment in March and April when sunflower oil hit historically high price levels.

• Arabica coffee futures prices fell 13% throughout the week as new margin requirements led to some selling in the market. Prices still remain high as consensus estimates of Brazil’s arabica production losses in 2022 have narrowed to the 4-5 million bag range (up to 10% of current forecast production). Differentials have remained unchanged from most growing areas as producers look to concrete damage reports and the futures markets for direction before committing to new crop pricing.

 

Pricing Team
Pricing Team

/You May Also Like

Featured Image
The Mintec Category Index for packaging (global) maintained an upward...
Featured Image
Historically, US dairy exports tend to decline seasonally in the...