Coconut production is recovering in southeast Asia, but supplies remain tight as a result of low exports from key exporters. Additionally, the production recovery may be lower than anticipated, keeping prices high month on month.
European wheat prices have risen month on month due to rising global supply pressures. The US crop has entered spring with the worse condition rating since 2002, putting upward pressure on global prices.In contrast, European barley prices have fallen month on month following reports the crop is expected to increase year on year for 2018/19.
Rice prices in Pakistan have also fallen month on month, as a result of production estimates being revised up by 4% month on month in April. Production is now expected to increase by 10% year on year in 2017/18.
| Key climbers | Price in GBP per tonne | m-o-m % | y-o-y % |
|---|---|---|---|
| Cocoa butter (UK) | 5,341 | 16.3% | 25.2% |
| Coconut Oil (EU) | 820.6 | 2.0% | -31.8% |
| Palm kernel oil (EU) | 743.2 | 1.9% | -7.30% |
| Wheat - Feed (ICE) (EU) | 146 | 1.7% | -1.7% |
| Sunflower oil (EU) | 578 | 1.3% | -7.1% |
| Key fallers | Price in GBP per tonne | m-o-m % | y-o-y % |
| Tea (LK) | 2,956 | -9.3% | -18.1% |
| Sugar (London ICE) (UK) | 242.1 | -3.5% | -34.4% |
| Tea (KE) | 2,646 | -2.6% | -16.5% |
| Barley - Malting (FR) | 157.1 | -2.3% | 0.1% |
| Rice (Basmati) (PK) | 698.4 | -1.80% | -9.9% |
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