Dried Fruit

Desiccated coconuts: farmgate prices maintain record level

December 1, 2021 12:24 PM, Der AUDITOR
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MANILA. In addition to high commodity prices, export prices for desiccated coconuts have also increased. And since all bad things come in threes, there is no relief in sight for freight costs either.

Uncertainty due to new coronavirus variant

In their latest report, the outlook of the experts at T. M. Duché is anything but rosy. Due to the new Covid variant Omicron, there is also a great deal of uncertainty on the coconut market, which will continue at least through the three trading weeks before the Christmas holidays. Further price increases cannot be ruled out. Farmgate prices are already at record levels and the goods are almost sold out for the first quarter of 2022. The situation for edible oils is mixed; they declined last week and rose again at the beginning of the week. According to T. M. Duché, coconut oil is trading below the 2,000-dollar mark. Prices for desiccated coconuts have also risen again on the European spot market in recent weeks.

Desiccated coconuts

Quality, origin

EUR/kg

Fine, high fat, Sri Lanka

3.10

Fine, high fat, Indonesia

2.64

Fine, medium fat, Indonesia

2.10

Medium, high fat, Indonesia

2.70

Fine, Vietnam

2.40

FCA Spain

Freight costs remain high

Congestion in the ports continues to be a major problem and the experts at T. M. Duché expect freight prices to remain at record levels for the time being. In France, it was announced that the government would force shipping companies to reduce costs, but nothing has happened yet. In Asia, there is a possibility that the situation could ease after the Chinese New Year in February 2022, but this is not certain either.

Typhoon season meets La Niña

Weather conditions in Southeast Asia are currently extremely difficult as the annual typhoon season meets the La Niña weather phenomenon, resulting in heavy rains and yield losses. In the Philippines, however, production is going well and there have been no weather-related interruptions, according to T. M. Duché.

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price chart, desiccated coconuts, Indonesia
price chart, desiccated coconuts, Philippines 
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