Dried Fruit

Desiccated coconuts: corona and typhoon cause further delays

May 18, 2020 11:53 AM, Der AUDITOR
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MANILA. Due to the extension of the corona measures, the delivery delays for coconut products from the Philippines continue. In addition, a typhoon that has already reached the mainland could cause further damage.

Extra shifts in factories

As has already been suspected, the Philippine government has initially extended the curfew until June. The local producers of coconut products are trying with all their might to fulfill the upcoming orders by extra shifts and to bring them back up to date. As the experts of T.M. Duché report, the factories are currently about seven weeks behind.

Typhoon could lead to further factory closures

One of the problems is that the factories cannot be supplied with sufficient raw nuts due to a lack of personnel and a disrupted infrastructure. Employees are also still having some difficulties in reaching their workplaces. And new difficulties are casting their shadows, because typhoon "Ambo" has already reached the country and market players expect it to cause considerable damage, which may lead to temporary factory closures, among other things. This would result in further delays in delivery and possibly also affect the harvest.

Edible oils under price pressure

There is still great uncertainty on the market, as it remains unclear how the situation might develop. At present, traders expect the delays to continue at least until the middle of Q3, but precise estimates are not possible due to the unpredictability of the corona pandemic. It seems certain that prices for edible oils, including coconut oil, will decline as crude oil prices are at a low point. The prices for desiccated coconuts are currently still stable on the European sports market and range at EUR 2.20 per kg for desiccated coconuts, fine, high fat, from Sri Lanka.

Desiccated coconuts

Quality

EUR/mt

Fine, high fat, Sri Lanka

2,200

Fine, low fat, Indonesia

1,000

FCA Spain

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