Market Report - May 2012

MARKET REPORT up to May 2012.

Current data indicates first-quarter U.K. economic growth could be 0.5%, its strongest quarter since spring 2011.

EXCHANGE RATES.

  • Against the $, Sterling opened the month at 1.58 and ended at 1.585 as at 10th April.
  • Against the Euro, Sterling opened the month at 1.195 and ended at 1.21 as at 10th April.

CRUDE OIL.

Brent Crude oil rose 2% on ICE, but Light Sweet Crude was down 1% on NYMEX. E.U. petrol prices rose 9%, as previous rises in crude oil prices fed through. The cost of diesel was also up 2% in the E.U.

FATS AND OIL.

Soya Bean Oil - Prices rose 3% in Rotterdam, as South American prospects deteriorated further at the start of March, although the drought is now officially over in some parts of Argentina.

Sunflower Oil - Rotterdam prices rose 2%, while Argentinian prices were unchanged.

Palm Oil - Malaysian prices rose 5%, as supply started to show the expected seasonal slowdown in February.

Rapeseed Oil - Prices rose slightly in Rotterdam.

Palm kernel Oil - Prices rose 2% in Malaysia.

Olive Oil - Spanish futures ended up 6% with Extra Virgin Olive Oil also up 3%.

WHEAT.

Milling Wheat futures fell on LIFFE Paris and 4% on CBOT, while prices in the cash market were mixed, with increases of plus 2% in the U.K.

DAIRY.

Butter - Prices throughout the E.U. continued to fall this month, down 7% in the UK, mainly due to high supply and lower demand.

Cream - E.U. prices fell 4% and the E.U. Butter Private Storage Aid (P.S.A.) scheme saw more activity than expected, with around 47% more supply put into the scheme, as of mid-March, compared to last year.

Milk Powders - S.M.P. saw declines of 6%, while W.M.P. also fell 5%.

Egg - Wholesale prices continued to increase, up 32% in the E.U. Liquid and Powdered Egg products also rose 20%.

COCOA.

Cocoa beans rose 2% on LIFFE. U.K. Cocoa Powder prices fell 6% and Cocoa Butter prices by 8%. World cocoa grindings in 2011/12 are expected to grow by 2%, to 3.99 million tonnes, due to increased demand.

DRIED FRUIT & NUTS.

Turkish Dried Figs Prices were down 10%.

Sultanas - Prices were down 5%.

Raisins - Prices have fallen by 2%.

Desiccated Coconut - Prices were down 10% in the Philippines, given improved supply.

Market Reports

Search Site

About BAKO

Trade account holders can place their orders on line 24 hours a day 7 days a week making ordering from BAKO even easier. Find out now how easily ordering online from BAKO can be.

Place your Order Now

Bako Products