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Article: Coconut Oil Prices Remain Weak On Oversupply and Global Oils Glut.(Brief Article)(Statistical Data Included)
- Article from:
- Chemical Market Reporter
- Article date:
- April 9, 2001
- Author:
CopyrightCOPYRIGHT 2001 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AFTER A SLIGHT surge in coconut oil prices in the fourth quarter, coconut oil prices have declined for the past three months as excess supply of alternative vegetable oils, particularly palm oil and soybean oil, have dragged down pricing for the major oils. Strong coconut production in the Philippines is also contributing to downward pricing pressure.
An abundant global supply of vegetable oils in marketing year 1999-2000 have made coconut oil export prices decline, beginning in January 2000 and speeding downward to a 15-year low at $285 per metric ton, c.i.f., Rotterdam as of February 2001, according to data from the US Department of Agriculture (USDA).
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