Dried Fruit

Desiccated coconuts: processors in a quandary

April 4, 2023 at 4:50 PM , Der AUDITOR
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MANILA. In the Philippines, some growers are holding back their raw materials because they do not want to accept the low prices offered by processors. The latter will have to increase their offers, but at the same time face high production costs, as T.M. Duché reports.

Growers demand higher prices

In their latest report, the experts of T.M. Duché explain that the situation of the coconut industry in the Philippines is getting worse. The biggest problem is the rising cost of energy and the availability of skilled workers. Meanwhile, the supply of raw coconuts is becoming increasingly limited as growers refuse to sell their goods at the low prices that processors are now offering. In order to regain more coconuts, processors will inevitably have to increase their offers while continuing to face high production costs - for now, it remains to be seen how this situation will develop.

Tight supply

T.M. Duché further reports that market activity will be limited over the next two weeks due to extended holidays. Producers will temporarily stop their work, which will further tighten the supply. Export prices are still stable, but experts predict increases in the near future. Suppliers are also reporting high demand, which is putting additional pressure. Prices for coconut oil have softened slightly, mainly due to other edible oil markets such as soybean and sunflower oil. Many factors play an important role here, such as the high crop in Ukraine and also the unstable banking sector.

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