Desiccated coconuts: uncertainty shapes the market

Date: 21st April 2022 Category: Latest News
Desiccated coconuts: uncertainty shapes the market

MANILA. The market was marked by the pandemic and geopolitical conflicts. There are small rays of hope but also significant concerns.

 

Declining commodity prices in Sri Lanka

According to the Mundus-Agri, commodity prices in Sri Lanka have fallen significantly, which can be attributed to the devaluation of the rupee. To what extent this will affect the longer-term price development remains to be seen for the time being. Meanwhile, the country continues to struggle with problems such as repeated power outages and various import restrictions, which have a negative impact on production volumes.

Indonesia seems to have passed the covid peak, resulting in increasing production and good supply. However, the government's long-term plans are to make the economy less dependent on agricultural commodities and to focus on goods that are less volatile.

Landslides in the Philippines

The Philippines experienced exceptionally heavy rainfall, which led to landslides and mudslides, especially in the center of the country. Locally, this caused considerable damage, which will also affect agriculture and infrastructure; however, some of suppliers do not expect production in the coconut sector to be affected in the long term.

 

Prices show a downward trend

Prices on the European spot market have eased in recent weeks, which is probably due to the slight decline in freight costs, among other things. However, it should be noted that these are still more than 60% higher than the prices charged in the same week last year.

 

Landslides in the Philippines

The Philippines experienced exceptionally heavy rainfall, which led to landslides and mudslides, especially in the centre of the country. Locally, this caused considerable damage, which will also affect agriculture and infrastructure.

 

Prices show a downward trend

Prices on the European spot market have eased in recent weeks, which is probably due to the slight decline in freight costs, among other things. However, it should be noted that these are still more than 60% higher than the prices charged in the same week last year.