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RED SEA UPDATE: The ongoing crisis in the Red Sea, marked by several attacks on commercial vessels, continues to disrupt a key artery of global trade. To learn how this affects your business with Unicorn Ingredients, please read our press release.

May 03, 2024

Ingredients Market Report: May 2024

2024-06-03T07:48:59+01:00May 3rd, 2024|Market reports|

I think it is reasonable to say that whilst we continue in the mid season period between crops, there is a lot of speculation and little fact as to the likely price trend for the new season commencing in August. Certainly, it is shaping up to be a different season again. The End of the El Nino weather complex combined with apparent climate change impacts is disrupting crop cycles globally. From a wet spring in UK making planting difficult and pushing harvesting times later than usual, to drought conditions already in some parts of Southern Europe and North Africa. Further afield Brazil has suffered a stifling heat wave and now parts of the country receive 30% of their annual rainfall in one day.

Apr 08, 2024

Ingredients Market Report: April 2024

2024-05-03T15:03:38+01:00April 8th, 2024|Market reports|

Attention is switching now to the new crops that are generally being sown in Northern Europe now. It would be far to generalise that many market are seen as good value currently and there is an expectation of an upward correction expected any moment.

Feb 01, 2024

Ingredients Market Report: February 2024

2024-03-04T14:52:45+00:00February 1st, 2024|Market reports|

Setting out to analyse the market outlook for 2024, there are plenty of unknowns and looming uncertainties that make it difficult to convincingly predict the course of the markets in the year ahead. On both sides of the Atlantic, increased odds of a recession, a dovish pivot in the monetary policies and general elections are foreseen as the key factors driving price action in 2024, however, geopolitics will continue to add a degree of uncertainty to the global economy and financial markets. The Russia-Ukraine conflict is still active, and the Israel-Hamas war does not appear to have an end in sight.

Jan 08, 2024

Ingredients Market Report: January 2024

2024-02-01T10:54:56+00:00January 8th, 2024|Market reports|

Over 2023 currencies traded within a narrow band relative to previous years, so what lies ahead for 2024? Last year’s stability was due to broadly similar tactics by the central banks of hiking rates to keep a lid on inflation. It is likely this alignment of approach will continue in 2024 with rate cuts priced in across each zone. But 2024 hold two key general elections in UK and USA, coupled with unrest in the Middle East, continuing conflict in Ukraine and thus it is likely volatility will be present this year.

Dec 01, 2023

Ingredients Market Report: December 2023

2024-01-08T12:28:46+00:00December 1st, 2023|Market reports|

It is noticeable the movement in the last month of US$ dollar weakening against € and £, which have stayed more or less aligned with each other. Whilst providing an opportunity for import prices of US$ based commodities it has the opposite impact on export prices. We are seeing this reflected in origin pricing levels, particularly in China. Here the situation is exacerbated by the weak Chinese economy causing concern for exports. As a consequence, we are having to secure contracts in local currency in the forward positions to achieve the best pricing.

Oct 30, 2023

Ingredients Market Report: November 2023

2023-11-30T14:39:44+00:00October 30th, 2023|Market reports|

Generally, markets have started to turn on more or less all items now. Additional freight rates are on the up, fuelled in particular by the current situation in Israel/Gaza. We have seen rates from China increase 100% this week alone. Obviously, oil is also firm adding surcharges on top of rates. Buying interest is also returning for 2024 now, as we at last see the delayed positions of consumers starting to be used up.

Oct 05, 2023

Ingredients Market Report: October 2023

2023-10-30T09:30:37+00:00October 5th, 2023|Market reports|

Sterling has weakened with the pausing of interest rate rises, and perhaps waits for some indication from the conservative party conference on the UK approach to investment & growth which will be heralded by the announcement re HS2. Otherwise, US dollar strength is impacting. UK inflation is improving and likely to continue, although whether the Governments targets will be met is still open to doubt.

Sep 01, 2023

Ingredients Market Report: September 2023

2023-10-05T10:14:42+01:00September 1st, 2023|Market reports|

The last few months have been all about interest rate rises to attempt to control the increase in inflation globally. These actions are likely to pause for a few months with attention switching to the various published data. So far these are tending to show a weaker situation in both the EU and UK compared to the US.

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