Desiccated coconuts: EU imports are declining
May 17, 2023 at 11:38 AM ,
Der AUDITOR
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 |
View more
- 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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