Dried Fruit

Desiccated coconuts: situation remains tense

May 12, 2021 at 11:10 AM, Der AUDITOR
Play report as audio

MANILA. The factories in the Philippines are working at full speed, but massive delivery delays still cannot be avoided. The outlook for the rest of the year is also anything but promising.

USA and EU in desperate search for goods

As the experts at T.M. Duché explain in their latest report, the Philippine coconut market is still facing major challenges. The pandemic has caused severe damage to the industry there. Coconut factories are doing their best to increase production, focusing on the most important products first, but deliveries are still at least six to eight weeks late. There is a slight improvement in raw nut sourcing, the biggest problem being the Covid-related staff shortage. Stocks are depleted in the US and EU and buyers are desperate for goods. The requirements have fallen and the main goal is to replenish stocks. Prices on the European spot market are so far holding steady at EUR 2.65/kg FCA Spain for desiccated coconuts, high fat from Indonesia.

Desiccated coconuts

Quality

EUR/kg

Fine, low fat, Indonesia

1.45

Fine, high fat, Indonesia

2.65

FCA Spain

No improvement in sight for the time being

The problems with shipping, caused by the lack of containers and the extremely high transport costs, also continue. Market players disagree on when prices will fall again - at the moment there is not much to suggest that this will be the case in the next few weeks. All in all, the T.M. Duché team does not expect significant improvements in the coconut sector in 2021. Stocks will most likely remain tight into Q4 and prices will also maintain their high level for the time being. It also remains to be seen how the typhoon season will affect the market in 2021.

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
Feb 8, 2023
SACRAMENTO/CHIȘINĂU. For the first time, Moldovan market players have to deal with carry-over stocks; until now they were able to sell their entire production to the EU. This has changed this season due to the ongoing economic crises.
Nuts
Feb 8, 2023
CANBERRA/MADRID. Last year, Australia was able to achieve the best November exports ever, and overall, the current season seems to be developing into a record year for Australia's almond industry. Growers in Spain, however, are less satisfied.
Nuts
Feb 8, 2023
ATLANTA. Although reports state that demand for US pecans has risen by 10.5% this season so far, it should be noted that this trend is only driven by domestic demand. Exports paint a totally different picture.
Dried Fruit
Feb 7, 2023
AYDIN. It is snowing at the higher altitudes of Aydin, which benefits fig trees. The earthquake that shook the border region between Turkey and Syria on Monday morning caused limited market activity at the beginning of the week.