Coconut Industry Pricing & Volume Update – May 10th, 2024

International and Domestic Price Movements

Coconut Oil: Prices range from $1,356.75 to $1,443.50 per metric ton.

Domestic prices in the Philippines for crude coconut oil range from PHP 66.20 to PHP 69.75 per kilo.

Desiccated Coconut: The international market’s prices remain stable at 80 to 95 cents per lb.

The domestic price in Manila is quoted between PHP 5,186.00 and PHP 5,474.00 per 100 lbs bag.

There has been a steady increase in Thai coconut prices since mid-April. The cost of young coconuts surged from ¥95 per piece to about ¥120 per piece, marking a 25% increase. Polished coconuts are priced slightly higher than young coconuts.

Export Volumes from the Philippines

Coconut Oil: There was a significant increase in export volume and value from April 2023 to April 2024, with the volume rising from 59,347 metric tons to 124,008 metric tons and a corresponding value increase from USD 58,863.57 thousand to USD 148,846.80 thousand.

Summary

The pricing trends in the coconut market indicate a general increase in prices. This is especially noticeable in international markets for desiccated coconut and domestic markets for husked nuts and copra meal.

Volume increases in coconut oil exports indicate robust demand, likely driven by increased global consumption and possibly supply chain adjustments post-pandemic.