Market Update 2nd July 2024

Coconut Oil Prices

In Europe, sellers quoted prices at $1,388.05 per metric ton (CIF), slightly lower by $7.45 compared to the previous week.

Desiccated Coconut:

USA & Europe: Prices fell by 1.67 cents per pound FOB, now at 90.00 cents per pound.

Other Regions: Similarly quoted at 90.00 cents per pound FOB.

Other News

The Philippine Coconut Authority announced a “targeted” 3-5% increase in coconut productivity for 2024,

However, the potential effects of La Niña could easily push supplies the wrong way, even with the ongoing national initiative to plant 100 million coconut trees by 2028.

Also, due to the current challenging global shipping situation, there are likely to be significantly higher shipping costs and likely constraints on what can actually be shipped as we are seeing congestion at Asian hubs like Singapore and container shortages

We always suggest that people book their positions early to ensure on time deliveries – and now more than ever, we suggest that you order early.