Market Report - May 2017

Posted 05 May 2017

Turn around in cocoa bean prices

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 1.22 and closed at 1.24.
Against the €, sterling opened the month at 1.16 and closed at 1.15.


Arabica coffee prices were down on ICE US (-4%), due to speculation of higher supplies in 2016/17 as production is forecast to rise 26% y-o-y. Robusta prices rose on London ICE (+1%), due to ongoing drought conditions in Brazil’s main growing regions. Sugar prices fell on ICE US (-9%) and on London ICE (-7%).

Sugar prices fell on ICE US (-9%) and on London ICE (-7%). Cocoa bean prices rose on ICE US (+11%) and on London ICE (+10%), supported by concerns over lower quality of some of the cocoa beans from Ivory Coast, the main cocoa producer. In the UK cocoa butter prices remained stable (0%), while cocoa powder prices were up (+2%), influenced by higher prices of raw cocoa beans.


Soyabean oil prices fell on CBOT US (-6%), in Argentina (-5%) and in Rotterdam (-1%), due to a rise in forecasts for Brazilian soyabean production.

Rapeseed oil prices rose in Canada (+4%), but fell in Rotterdam (-4%).

Palm oil prices fell in Indonesia (-4%), Malaysia (-3%) and Rotterdam (-1%), due to a recovery forecast for production later this year and falling prices for soyabean oil.

Palm kernel oil prices fell in Malaysia (-18%), Rotterdam (-8%) and Indonesia (-6%), due to rising production. Coconut oil prices fell in Rotterdam (-1%), in line with falling palm kernel oil prices, however prices remained stable in the Philippines (0%). Sunfl ower oil prices fell in Russia (-5%), Argentina (-2%), Ukraine (-1%) and in Northwest Europe (-1%), due to record production in Ukraine and Russia.

Extra virgin olive oil prices rose in Spain (+3%) and Italy (+2%), as a result of lower production in 2016/17. Lampante oil prices rose in Spain (+2%). Linseed oil prices fell in Argentina (-5%).


Milling wheat prices fell on CBOT US (-7%), Euronext Paris (-4%), in Germany (-3%) and on ASX Australia (-2%), but remained stable in the UK (0%). Feed wheat prices rose in the UK (+1%), but remained stable on ICE Europe (0%) and in Hungary (0%).


Hazelnut prices fell in Turkey (-2%). Almond prices were up in the US (+4%), but fell in Spain (-4%). Peanut prices continued to fall across all markets, with declines seen in Brazil (-6%), Argentina (-5%) and the US (-1%). Cashew prices remained stable in Vietnam (0%).

Pine nut prices fell in China (-13%).

For dried fruit, sultana prices were down in Turkey (-1%), with raisins also falling in Turkey (-3%) and the US (-2%). Dried apricot prices were up in Turkey (+5%). Desiccated coconut prices fell in the Philippines (-2%).


Butter prices rose in the EU (+5%), due to lower milk fat availability and rising demand. EU butter prices rose in the UK (+7%), Germany (+4%), Belgium (+3%), Poland (+2%) and France (+2%). Butter prices rose in New Zealand (+11%), but fell in the US (-7%).

Prices for cheese in the EU fell for Emmental (-4%), UK Cheddar (-3%) and Gouda (-1%), but remained stable for Edam (0%) and Italian Parmesan (0%). Elsewhere, cheese prices fell for US Mozzarella (-10%), US Cheddar (-9%) and New Zealand Cheddar (-3%). SMP prices fell in the EU (-8%), due to buyers holding off purchasing large volumes.

EU SMP prices fell in France (-14%), Germany (-10%), Belgium (-8%) and the Netherlands (-8%). SMP prices fell in New Zealand (-22%), but rose in the US (+3%). WMP prices fell in the EU (-5%), with prices down in the Netherlands (-9%), France (-8%), Germany (-8%) and Belgium (-7%). Shell egg prices rose in the EU (+6%), due to rising demand leading up to the Easter period.

EU shell egg prices rose in Germany (+23%), Spain (+17%), France (+9%), but remained stable in the UK (0%), while falling in Poland (-1%). In the EU, processing egg prices rose for egg yolk liquids (+14%) and egg whole liquids (+9%).


Light sweet crude oil prices on NYMEX US (-10%) and Brent crude oil prices on ICE London (-9%) fell due to record US stocks, rising production and lower refi nery utilisation. Diesel prices fell in the EU (-8%) and the US (-6%), due to good supply and milder weather conditions in Europe limiting demand.

Petrol prices fell in the EU (-13%) and the US (-4%), due to stocks of refi ned products at record high levels in the US. Gas oil prices fell on ICE EU (-9%).


Base metal prices on the LME fell for nickel (-7%), copper (-4%) and zinc (-1%), however prices rose for lead (+1%), aluminium (+2%) and tin (+4%).

Quick Links

Article Links

No links for this article