Dried Fruit

Desiccated coconuts: new year starts with high prices

January 10, 2022 4:08 PM, Der AUDITOR
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MANILA. A low vaccination rate and the aftermath of a heavy typhoon keep causing production delays in the Philippines. Market experts do not expect noticeable relief in 2022.

Edible oil markets also affected

Commodity prices remain at record highs as the year begins, according to experts at T.M. Duché. Various difficulties could ensure that this will remain the case for a while; covid vaccinations in the Philippines are still far behind those in Western countries, so there will be repeated outages and pandemic-related restrictions. This will affect not only the coconut market but also edible oil markets worldwide. In addition, the country is recovering from a severe typhoon that hit the islands at the end of December.

Prices continue to rise

The experts currently reckon that the production volume will remain at the level of Q4 of 2021, so that the supply cannot cover demand. Prices on the European spot market have again increased slightly and are currently at EUR 2.75/kg FCA Spain for fine desiccated coconuts, high fat, origin Indonesia.

Desiccated coconuts

Quality, origin

EUR/kg

Fine, high fat, Sri Lanka

3.10

Fine, high fat, Indonesia

2.75

Fine, medium fat, Indonesia

2.10

Fine, low fat, Sri Lanka

1.75

FCA Spain

Problems in the ports continue

Looking at the Drewry's World Container Index, T.M. Duché also does not reckon that the high transport costs will decrease noticeably. Although the first declines have been recorded since the record high in mid-2021, it currently looks as if this will be all for the time being. Currently, transport costs are still almost 120% higher than in the corresponding week of 2020. In 2022, pandemic-related problems in the ports are also to be expected, which is why market players reckon that transport costs will hardly decline in the first half of 2022 and only slightly - if at all - in the second half of the year.

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