Desiccated coconuts: market must remain flexible
November 5, 2024 at 4:50 PM ,
Der AUDITOR
Stable prices for desiccated coconuts
As the experts at T.M. Duché report, prices for coconut oil started last week strongly at USD 1,745-1,755/mt CIF EMP, but fell to USD 1,710-1,720/mt CIF by the end of the week. These declines are mainly due to the cheaper palm kernel oil, with which there is competition. Prices for desiccated coconuts, meanwhile, remained stable and are now at USD 0.80-1.24/lb FOB for the twelfth week in a row. Domestic prices in the Philippines have risen slightly, underlining the strong market.
India wants to become more independent
India has launched the National Mission on Edible Oils-Oilseeds; in the course of this mission, domestic oilseed production is to be increased, which would inevitably have an impact on the coconut market. By 2031, it should be possible to ensure self-sufficiency in edible oils. Although the focus is mainly on primary oilseeds such as sunflower and rapeseed, the demand for coconut oil and the corresponding price development would also be noticeably affected.
“These movements reflect broader trends in both domestic and international markets, with ongoing factors of supply and demand influencing pricing and trade volumes. As global economic conditions change, the coconut industry must remain flexible to adapt to these shifts”, the experts at T.M. Duché state.
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