Desiccated coconut market update
The market continues to be incredibly challenging. All origins are experiencing difficulties with freight costs and container/booking availability. Sellers in Indonesia and the Philippines, in particular, have shifted to FOB sales. They are willing to book and organise freight on behalf of buyers, but they are no longer willing to risk freight rates fluctuating.
The freight hike has harmed most shippers significantly in recent months.
Sri Lanka is currently in lockdown (which will last till June 7th), which is disrupting daily living, including transportation, production, and so on.
Because of COVID-19, all factories in the Philippines are experiencing diminished production capacity. There is still a demand for Philippine-made products, but there are few sellers available.
Indonesia has been selling well lately, and prices are continuing to rise. .