The current weak demand for maize flour has seen the price fall compared to the past two years as a result of lower maize grain prices in the Kenyan market with a 2kg packet retailing at KES 103 for Soko, KES 108 for Pembe, and KES 110 for Jogoo compared to the KES 115 price that was retailing previously in September.
Permian frac sand prices have remained steady this week, with FOB Kermit 100m and FOB Kermit 40/70m prices falling by $0.50 per ton respectively. The volatility in price has largely been attributed to increased demand to drill and complete wells to offset production declines in the Permian. In the Permian’s most active areas, we continue to hear of spot prices reaching $13 and $17 per ton for 100m and 40/70m. With higher product demand, trucking and transport efficiency is increased, leading to higher profits for players proximal to more active regions. FOB Odessa Northern White 40/70m sand prices fell by $0.05 ton this week.
Permian frac sand prices have risen this week, with FOB Kermit 100m and FOB Kermit 40/70m prices increasing by $1.50 and $1.00 per ton respectively. The uptick in price has largely been attributed to increased demand to drill and complete wells to offset production declines in the Permian. In the Permian’s most active areas, we have heard of spot prices reaching $13 and $17 per ton for 100m, and 40/70m respectively (read more in the Energy Market Commentary). FOB Odessa Northern White 40/70m sand prices fell by $0.05 ton this week. In the Northern mine gate market, FOB Wisconsin 100m and 30/50m prices remained relatively flat with price movements of within $0.01 per ton of last week’s prices. Meanwhile, prices for Northern White 40/70m at the mine gate decreased by $0.20 per ton. The Primary Vision frac spread count continues to climb, moving from 101 frac crews to 111 for the week ending October 2, 2020. The US rig count continues to hold steady, moving from 261 to 266 as of Friday. The increases in rig count and frac spread count come despite WTI prices staying in the $40 per barrel range with today’s open price set at $37.00 per barrel.
The Middle East remains the leading destination for Uganda’s exports bringing it to three months in a row this year with an estimated 53.3% of the country’s exports going to the Middle East followed by other members of the East African Community.
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Permian frac sand prices have declined slightly this week, with FOB Kermit 100m and FOB Kermit 40/70m prices falling by $0.20 and $0.35 per ton respectively. FOB Odessa Northern White 40/70m sand prices fell by $0.10 ton this week after last week’s gains.
Permian frac sand prices continue to hold steady this week, with both FOB Kermit 100m and FOB Kermit 40/70m prices remaining within a $0.05 per ton bandwidth since last week, although we have begun to see signs of prices moving in a flat (or even slightly downward trajectory). FOB Odessa Northern White 40/70m sand prices rose by $0.20 ton this week.
Permian frac sand prices continue to hold steady this week, with both FOB Kermit 100m and FOB Kermit 40/70m prices remaining within a $0.05 per ton bandwidth since last week. FOB Odessa Northern White 40/70m sand prices rose by $0.05 ton again this week.
Kenya’s Port Authority has stated that it will not increase the free storage period for cargo coming into the country, apart from those that are destined to further East African countries, after a 90 day period was granted in May. The KPA authorized an extension for goods in transit but declined to include local Kenyan importers who now have a week to clear their goods or risk penalties from authorities.
Permian frac sand prices continue to hold steady this week, with both FOB Kermit 100m and FOB Kermit 40/70m prices remaining within a $0.05 per ton bandwidth since last week. FOB Odessa Northern White 40/70m sand prices rose by $0.05 ton this week, compared to $0.10 per ton last week, suggesting its pickup in demand is losing steam.