Coconut Market Update – February 2022
The last two weeks have seen a much more active, and volatile market. With order volumes still relatively low, we may well see a potential price drop from growers in an attempt to move stock. The Philippines and Indonesia are under huge pressure to source 20ft containers to ship their goods in due to a shortage which we have seen across the globe. This as well as general congestion/loading delays at ports has resulted in further delays to customers receiving their orders.
It is hoped that prices may drop in the coming months, however some buyers are skeptical, given that some sources have said growers and packers have become firmer on their pricing. This may prove to be a problem for distributors, given that volumes are still low in comparison to previous years, but with firmer pricing.