Dried Fruit

Desiccated coconuts: EU imports are declining

May 17, 2023 at 11:38 AM , Der AUDITOR
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MANILA/BRUSSELS. While the market for desiccated coconuts is currently rather quiet, the demand for roasted coconut chips is increasing. The El Niño weather phenomenon will prove to be an important factor for market development this year. EU imports are down year-on-year.

El Niño threatens crops

As the experts at T. M. Duché report, the forecasts for the palm oil market in 2023 are rather mixed. Prices are likely to fall in some origins due to high supply, while the El Niño weather phenomenon could have a negative impact on crops in other producing countries. Demand is currently rather low and, according to T. M. Duché, there are now two possibilities: Weak demand and dampened purchasing power due to economic crises will cause prices to fall, or the bad weather will cause supply to shrink massively and prices to remain high.

Coconut chips become more popular

The market for desiccated coconuts is currently rather quiet, as most buyers have already stocked up on sufficient goods. According to Chelmer Foods, the situation is different in the market for roasted coconut chips, which are becoming increasingly popular. Freight rates from Sri Lanka are comparatively low and Chelmer Foods expects this trend to continue over the next 18 months, which should encourage more players to enter the market. The price development in Sri Lanka remains exciting, as import taxes on palm oil and the switch of consumers to coconut oil will have a direct impact here.

Philippines remain most important supplier for the EU

The EU reduced its imports of dried coconut products by 6.7% in 2022, bringing imports to 78,901 mt. The Philippines was the most important supplier with 42,118 mt. Indonesia remains in second place, but exports to EU countries fell by more than a quarter. Sri Lanka, however, was able to increase its shipments by 18.8% to 8,695 mt.

Dried coconut* imports, EU, in mt

Supplier

2021

2022

Diff.

Philippines

39,096

42,118

7.7%

Indonesia

32,792

24,574

-25.1%

Sri Lanka

7,320

8,695

18.8%

Vietnam

1,512

1,612

6.6%

Malaysia

702

572

-18.5%

Others

3,100

1,330

-57.1%

Total

84,522

78,901

-6.7%

European Commission / Eurostat (Comext)

*08011100 Desiccated coconuts

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price chart, desiccated coconuts, Sri Lanka
price chart, desiccated coconuts, Indonesia
price chart, desiccated coconuts, Philippines 
price chart, coconut oil, Indonesia
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