The coconut market has seen steady upward price movements as supply keeps getting tighter. Inventories are short and Importers are pre-selling product faster than the boats can bring it. 

while the coconut product sector faces significant challenges in export volumes, opportunities for stabilization and growth remain, particularly through market diversification and product innovation. Stakeholders should remain vigilant and responsive to the dynamic market conditions to harness these opportunities effectively.

The weather has been in the news in the past couple of weeks. Massive storms in the Gulf, including the flooding in Dubai, have received extensive social media coverage.

Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a price not seen on the Rotterdam market since September 2022.

A major Philippine manufacturer’s site in Davao has been closed and is also rumoured to be having financial hardships, which is causing the flow of orders to go elsewhere, bringing down supply for the Spot Market.

The Pecan harvest continues in most of North America, from October to January, with Mexico and the USA accounting for over 90% of the world’s pecan production. 

The Pecan harvest continues in most of North America, from October to January, with Mexico and the USA accounting for over 90% of the world’s pecan production. 

The remaining pecans are harvested in South Africa, Australia, Brazil, and other southern American countries from June to September,

The coconut market shot up this week by around $200 for desiccated a number of factors have caused this.

Freight trucking Yellow, which received a $700 million lifeline from the federal government during the pandemic, is now filing for bankruptcy three years later.

The costs of edible oils decreased during the first quarter of this year due to increased interest rates from central banks, which has affected demand.

The current economic uncertainty in the crude oil market is influencing the trends of the edible oil market. High-interest rates are contributing to this uncertainty, but the crude oil market could improve if interest rates stop increasing during the summer or if they decrease later this year or early next.

It has been a busy few weeks for Vegetable oils. So, it remains true that vegetable oils, more and more, now track crude oil pricing. Even more mandates for blending biofuels mean that vegetable oils react to wider economic news just like crude oil.

So, what does 2023 hold for desiccated coconut and coconut oil prices, along with prospect supply issues?

Coconut oil hit highs in February at over $2,300 CIF Rotterdam before hitting a low of just over $1,000 in October. This is a fall of nearly 60% in just 8 months.

Palm oil has been trading slightly weaker recently, with continued China lockdowns being the leading cause. Whilst slower seasonal production….

The Philippines is recovering from tropical storm Nalgae, which caused deadly flooding over the weekend. The storm is now heading across the East China Sea and is expected to intensify and then weaken as it approaches mainland China.

Typhoon Karding / Noru, the most powerful Typhoon to hit the Philippines this year, made landfall on the coast in Burdeos town in Quezon province before nightfall on Sunday. The Typhoon then weakened as it moved overnight across the Central Luzon region, with thousands of people forced to emergency shelters, some forcibly.

After the long hot, dry summer in Europe, inflation has become the major talking point; many governments seem to be rolling out numerous strategies beyond increasing interest rates to curb inflation; will the market turn?

Several factors have affected edible oils in the last week, with most adding to the upwards pressure on price.

Force Majeure - the act of being unable to fulfil a business contract because of forces beyond your control.

Not often do we get to hear it used twice in one week, yet yesterday, Gazprom, the Russian gas supplier, sent a letter to clients stating that it is unable to fulfil supplies.