Desiccated coconuts, crop update, September 2022

Date: 29th September 2022 Category: Latest News
Desiccated coconuts, crop update, September 2022

Mundus-Agri: Like all other markets, the coconut market has been badly hit by the crises in the world market. In addition, there is the typhoon season, which has already caused damage in the Philippines; all this will have an impact on prices.


Edible oils on a downward trend

Like other agricultural products, the coconut market is not spared from the current crises on the world market. The strong inflation in many consumer countries as well as the energy crisis, which is driving up costs massively, are dampening purchasing power considerably. As the experts report, the harvest for palm oil has peaked in the southern hemisphere, and falling crude oil prices and high availability have pushed prices here to their lowest level in over a year. Coconut oil is also declining, but European supply has tightened with energy and fertilizer shortages. 


Typhoon affects production

Similar developments are emerging in the market for desiccated coconuts, which has also seen prices fall in recent months. Some buyers are now securing the favourable prices and stocking up for the first quarter of 2023. As always, the typhoon season will be decisive for the price development. Last Sunday, typhoon Karding hit the Philippines, forcing more than 20,000 people to seek shelter in emergency places. There are also reports of fatalities. In the meantime, the situation has calmed down to some extent, but communication is still severely limited, so there is still no official picture of the total damage. The market experts expect that the typhoon will affect the production and export of desiccated coconuts, only the extent is not yet clear.