Market News
Massive numbers of factors that affect the market and pricing. Primarily the edible oil market since you can either produce desiccated coconut or coconut oil but not both. Coconut oil much larger than the desiccated market with around 3.2 million tonnes coconut oil produced annually and 360,000 mt of desiccated. Also popular at the moment is VCO (virgin coconut oil) which processing costs are much higher than normal coconut oil because it’s only produced by pressing the pure white meat.
Talking about Shipping
Factories in the Philippines are beginning to catch up on production.
However, worldwide port congestion is becoming a significant issue. Our parent company has had a ship waiting at anchorage outside a UK port for almost a month. And this was already delayed on its route from Manilla.