Free of charge

Desiccated coconuts: buyers tend to panic buy

September 25, 2024 at 4:44 PM , Der AUDITOR
Play report as audio

MANILA/JAKARTA. Torrential rains and flooding in the major coconut-growing countries continue to be a problem in the international coconut market. Dwindling stocks in the western spot markets are causing buyers to panic buy.

La Niña could rage until February 2025

The Philippines are already reeling from the effects of tropical storm Yagi and the weather phenomenon La Niña has also left its mark. Floods and mudslides have damaged coconut plantations and oil factories, further straining the already tight supply situation, according to the experts from JCP International in their latest report. Further severe storms are expected until the end of the year. The World Meteorological Organisation has already warned that the effects of La Niña could extend into February 2025.

In other parts of Asia, too, torrential rainfall is causing flooding in many regions, including northern and southern Thailand and Vietnam. In contrast, the situation in Indonesia is not quite as serious, although heavy rainfall is also affecting the coconut crop here. After El Niño previously caused lower coconut yields, La Niña is now bringing immense amounts of water with it and coconut processors are fighting over the low stocks in order to keep their business going.

Prices could reach record high

Due to these circumstances, coconut oil prices are continuing to rise, currently trading at USD 1,750/mt in Rotterdam and market players are reckoning that prices could even exceed the EUR 1,800/mt mark. There is even speculation that high demand and limited availability could push prices up to a record level of USD 2,200/mt. As expected, prices for desiccated coconuts are following a similar trend. According to the experts at JCP International, buyers who have not hedged in advance with contracts are now panic buying. Further price rises are also to be expected here. Stocks are already running low in the important buyer markets such as Europe, the Middle East and North America, which is making prompt procurement more difficult. Freight rates have recently fallen again somewhat, but market players do not consider this to be a permanent trend. The ongoing conflicts in the Middle East could quickly lead to a turnaround.

View more
price chart, desiccated coconuts, Sri Lanka
price chart, desiccated coconuts, Indonesia
price chart, desiccated coconuts, Philippines 
price chart, coconut oil, Indonesia
more price charts

View related articles

Go to the News Overview
Nuts
Dec 15, 2025
NEW DELHI. Indonesia's import ban on Indian peanuts continues to weigh heavily on the Indian market, and international competition is fierce overall. Market players are calling for a more consistent import policy.
Nuts
Dec 12, 2025
ORDU. In Turkey, the hazelnut market has shifted into reverse mode with wide price gaps existing. There is wide room for speculations as to what way the market will turn in the second half of the season and who may have to pay the bill.
Nuts
Dec 11, 2025
REUS. According to the International Nut and Dried Fruit Council’s (INC) most recent production estimates for pistachios, global production will decline despite the US bumper crop. Output is not in line with expectations in Iran and Turkey. Spain holds quite an advantage.
Dried Fruit
Dec 11, 2025
BRUSSELS/REUS. EU imports have maintained record-high levels for dates in the first three quarters of the year as official statistics show. As the International Nut and Dried Fruit Council reports demand is very strong for Deglet Noor and Medjool dates.