Coconut Industry Pricing & Volume Update – April 26, 2024

Here is a summary of the current pricing & Volume trends for coconut products, both from the Philippines and internationally.

2023-2024 Coconut Products Export Volume:

• Coconut Oil (CNO): The export volume shows a significant year-over-year decline, with a 17% reduction in coconut oil exports in the January to April comparison of 2024 versus 2023.

International Coconut Product Prices:

• Coconut Oil: Prices ranged from $1,400 to $1,442.50 per metric ton CIF in Europe. The market showed slight fluctuations, with prices generally trending downwards compared to the previous weeks.
• Desiccated Coconut: The price range for the US and Europe is 80 to 90 cents per pound FOB, maintaining consistent to higher levels over recent weeks.

Domestic Prices in the Philippines:

• Copra: Prices showed a slight increase, with Quezon sellers listing prices between PHP 3,850 to PHP 4,000 per 100 kilos, marking an upward trend.
• Crude Coconut Oil: Prices edged higher, ranging from PHP 66.50 to PHP 68.50 per kilo.
• RBD Coconut Oil: Refined, bleached, and deodorized coconut oil prices saw slight variations, with closing prices reaching PHP 90.50 to PHP 150.50 per kilo.
• Copra Meal Pellets: Prices were slightly down, with sellers offering PHP 10.80 per kilo and buyers at PHP 10.50 per kilo.

Market Summary: This week’s market presented a mix of stability in desiccated coconut and slight price increases in raw materials like copra and coconut oil in the domestic market.

Internationally, the trend showed a mild price decrease, possibly influenced by global demand shifts and local market dynamics. But we are seeing high pricing over the longer term as some customers set in deliveries for Q3&4