An update on the ongoing effects of the COVID-19 on the Coconut Marketplace

For the moment whilst countries like the Philippines implement strict social controls, the manufacture and shipments of desiccated coconut, remain unaffected along with most shipments of food commodities.

The underlying edible market trends should mean that because stocks are falling, and crops are lower this year than last. Prices should be rising based on usual market predictions, yet they have fallen nearly 10% in the last week.

At the moment, the market is unsure just how the current COVID-19 situation will affect demand in Q2/Q3 (and the crude oil pricing situation are not helping), with the market hedging, even with crops falling, demand will fall further.

The length and global impact of COVID-19 are still unclear, even with China seeming to be re-emerging.

For now, business is minimal as buyers shun the market waiting for some clarity.