Mel's Market Report January 2018
EGG: We have seen egg in short supply in the run up to Christmas. Our primary supplier has ensured our deliveries have been fulfilled so we have seen minimal disruption. The New Year should offer a better position with prices beginning to relax.
SUGAR: The pound is making a comeback amid some positive Brexit discussions! Sugar pricing will remain stable into the New Year.
DRIED FRUIT: Sultanas– Contracted volume well into next year at keen pricing has placed on the right side of the spot market. Currants – This market remains unsettled. There are still limited offers coming out of Greece. We now hold a position that will see us into Feb/Mar to ensure we can offer continuation of supply to our customers.
The flour market remains pretty stable based on the amount of wheat availability and current insight into all harvests. Q1 will offer marginal price decreases across most flour lines. Although there are ongoing problems with Spelt grain prices which have doubled this year, global demand continues to create a shortage in supply. We will see further price increases early next year.
TUNA: There are no signs of improvements as yet which traditionally happened in the autumn when catch numbers improved. Contracted tonnage only covered us until December so January will unfortunately pass on a price increase. The advice was to push cover out until end March 18 so we await to see if Q1 offers any improvement.
DAIRY: January will offer reductions against dairy after a very turbulent year! There is optimism for next year that the first spring flush will provide the milk levels that will put some stability back into this market.
OIL and FATS: We have covered volume on our BAKO fats past June 2018 which gives us a very stable position with little change to our current prices for Q1 and Q2.