Market Report - August 2017

Posted 01 August 2017

Butter price rises continue unabated

All percentage changes in this report refer to month-on-month price changes and are provided by Mintec.


Against the $, sterling opened the month at 1.288 and closed at 1.30.
Against the €, sterling opened the month at 1.147 and closed at 1.138.


Sugar prices fell on ICE US (-20%) and on London ICE (-15%), due to expectations of a large global production in 2017/18.

Cocoa bean prices fell on ICE US (-8%) and on London ICE (-6%). Cocoa butter prices have increased in the UK (+2%), but cocoa powder prices remained stable in the UK (0%).


Soyabean oil prices rose on CBOT US (+3%), due to concerns over adverse weather conditions in major US growing regions, however, soyabean oil prices remained stable in Rotterdam (0%.)

Rapeseed oil prices rose in Rotterdam (+2%), due to rising demand.

Palm oil prices fell in Indonesia (-16%), Rotterdam (-4%) and Malaysia (-2%), due to increased production in Q1 2017.

Palm kernel oil prices rose in Malaysia (+14%), but fell in Rotterdam (-4%).

Extra virgin olive oil prices fell in Spain (-2%) and remained stable in Italy (0%).


Milling wheat prices rose on CBOT US (+7%), Euronext Paris (+7%) due to adverse weather conditions in the US limiting supplies. However, prices fell in the UK (-2%).

Oat prices rose on CBOT US (+8%), but remained stable in Finland (0%).


Hazelnut prices were down in Turkey (-2%).

Almond prices fell in Spain (-3%) and the US (-2%).

For dried fruit, sultana prices remained unchanged in Turkey (0%),but raisin prices rose in Turkey (+10%) and the US (+2%). Dried apricot prices declined in Turkey (-6%).

Desiccated coconut prices were steady in Philippines (0%).


Butter prices rose in the EU (+21%), due to rising demand alongside tight milk fat supplies. EU butter prices rose in the UK (+14%).

Prices for cheese in the EU rose for UK Cheddar (+10%).

EU WMP prices rose (5%).


Brent crude oil prices on ICE London (-6%) declined, due to high global stock levels and continued rig additions in the US. Production in the US has risen 10% y-o-y to 9.33m bbl/d in May.

Diesel prices fell in the EU (-14%) due to slow demand and plentiful supply, coupled with the end of refinery maintenance in Europe.

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