Coconut Market Update 2nd December 2024
December 2, 2024
Shifting Price Trends in the Global Coconut Oil Market Coconut oil prices in the Rotterdam…
Rates and Delays
The challenges of 2021 delays and high shipping prices have simply not gone away and have gotten worse.
The headline on Loadster.com reading “Asia-Europe spot rates head for $20,000 per feu as new China Covid crisis bites”, sums up the situation.
A lot of the issues stem from delays at ports in mainland China and COVID outbreaks there.
We are seeing shippers struggling to get space on ships and knock-on delays at hubs like Singapore.
Many local EU ports are running at capacity with no space for more containers with some smaller ports quickly being overwhelmed as shippers move to them, with Liverpool having major issues according to Loadster.com.
Most commentators suggest that delays will not get better till Christmas, and in our opinion, that may be optimistic.
Historic overcapacity has meant lower prices – we are now at full or near capacity for shipping lines meaning prices are going to stay high for the foreseeable future.
Production
Production is still about four to six weeks behind in the Philippines. Many factories, including Primex, have chosen to focus on catching up on old orders instead of selling new positions. This is because of the ongoing COVID restrictions in place in the Philippines, with staffing levels still a significant issue, hampering pushing up production on top of the reduced supply of raw coconuts into factories.
Positions are only available now from mid Q3 onwards, and that is heading into typhoon season when there is the possibility of other factors affecting supply.
What does all this mean from prices? – We are seeing spot desiccated relatively flat even off the back zero availability in Europe and there are no stocks built up and demand is at an all-time high meaning prices are liable to change.
Call us to discuss your requirements
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
December 2, 2024
Shifting Price Trends in the Global Coconut Oil Market Coconut oil prices in the Rotterdam…
November 28, 2024
We have received calls and emails from multiple sources suggesting that Franklin Baker, an M&S…
November 25, 2024
Firming Prices in the Global Coconut Oil Market In mid-November, coconut oil prices in the…
November 18, 2024
Price Trends and Market Dynamics The coconut oil market has shown strong performance, continuing its…
November 11, 2024
Price Trends and Market Dynamics During the first week of November, the coconut oil market…
November 4, 2024
Prices for coconut oil started the week strong, ranging from $1,745 to $1,755 per metric…
If you require technical information about our products, then please login here to access the most up to date information...
Let's take a look at this...