Market News 18th March 2024
March 18, 2024
Palm Oil and Coconut Oil prices jumped almost 12% on Friday, 7th March, to a…
The Philippines is “the most exposed country in the world to tropical storms” according to Time Magazine, with about 20 tropical storms a year making landfall, and of which ten are classed as Typhoons.
Sadly, the Typhoon ‘Ambo’ or Vongfong has resulted in 4 confirmed deaths and over $20 million worth of damage and is the first storm of the 2020 season.
Filipinos are very resilient people and are used to dealing with the yearly cycle of typhoons.
The farming and production of coconut has from the very beginning adapted to the effects of Typhoons and bounces back quickly.
In this case of Typhoon, ‘Ambo’ Primex’s factory in the area was only closed for one day with production back to previous levels (currently 50% due to COVID-19 measures), with some delays to harvesting and transportation caused by damage to the local
infrastructure.
Primex’s staff work supremely hard throughout the year to mitigate the effects of Typhoons on their production and are now are working under the extra challenges of the global pandemic.
At TM Duché, we support the work of Primex and their staff behind the scenes and work with them to ensure we can deliver their products to market ensuring their long-term success.
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