Desiccated coconuts: yield declines in Thailand
October 30, 2024 at 10:20 AM ,
Der AUDITOR
Philippine exports 39% higher
As the experts at T.M. Duché report, prices for coconut oil on the European market have climbed slightly this week and were recently at USD 1,735-1,750/mt in Rotterdam – after a long period of stagnation, there appears to have been a temporary recovery here. The market for palm kernel oil is more volatile and is currently unable to keep up with the market strength of coconut oil.
The market experts also report that the Philippines recorded a significant increase in exports of coconut products in June. A total of almost 220,000 mt were shipped, 67% more than in the same month last year. Coconut oil was the main driver, with exports more than doubling compared to June 2023. The USA and the European market in particular increased their imports dramatically. Exports of copra flour and dried coconuts, meanwhile, declined. Overall, coconut exports from the Philippines rose by 39% in the first half of 2024, underlining the positive trend in the coconut industry in the Asian country.
Lower production in Thailand
Vietnam reports that exports of fresh coconuts to China have increased significantly to 30 to 35 containers per month. According to T.M. Duché, this could bring in around USD 250 million of the estimated total exports of coconuts, which amount to USD 1.2 billion. Vietnamese exporters are keen to improve the quality, packaging and pricing of their products in order to keep them competitive.
Growers in Thailand are facing major problems as coconut palms are affected by the ongoing drought and pests, and yields are estimated to fall by 8.5%. Although prices are rising due to the supply bottlenecks, producers are endeavouring to minimise the impact on consumers. According to the market experts, the government is also trying to compensate for the lower production by increasing imports. This is intended to support both consumers and producers.
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