Market Update 14th Jan 2025

International Market Trends: Stability in Desiccated Coconut Prices

The international market for desiccated coconut remained stable at the end of 2024, with prices steady at 80-150¢ per pound FOB in major markets, including the USA, Europe, and Asia. This consistency reflects sustained global demand, particularly for bakery, confectionery, and plant-based food products. Domestically, prices in the Philippines for desiccated coconut experienced a slight decline, ranging from P5,246 to P5,538 per 100-pound bag, due to localised supply adjustments.

Philippine Export Performance and Challenges

The Philippines’ export volumes of desiccated coconut faced challenges in 2024. They experienced a 26.4% year-on-year decline, totalling 114,950 metric tons. Export value also decreased by 24.9%, amounting to $185.6 million.

While the USA, Netherlands, and China remained key markets, supply chain disruptions, weather-related setbacks, and the mothballing of a major manufacturing plant in Davao contributed to this decline.

Local Market Developments

Domestic prices for crude and refined coconut oil remained firm, with crude coconut oil trading at P111.31 per kilo, a significant increase from last year’s average of P91.15. Similarly, RBD coconut oil prices ranged from P120.50 to P155.00 per kilo. Copra prices in key regions of the Philippines, including Quezon and Bicol, showed an upward trend, ending the year at P6,300-6,500 per 100 kilos. These trends reflect strong local demand and tightening supply, providing opportunities for farmers to benefit from higher prices.