Market Update 4th November 2024
November 4, 2024
Prices for coconut oil started the week strong, ranging from $1,745 to $1,755 per metric…
Price Movements in the International Coconut Market
Coconut oil in Rotterdam traded at $1,718.50/MT CIF, a $7.50 rise from the previous week. The price of palm kernel oil followed a similar trend, increasing slightly by $0.50 to $1,541.50/MT CIF. Despite these upward adjustments, the coconut oil premium over palm kernel oil widened, reflecting a growing demand for coconut oil amidst relatively stable palm kernel oil prices.
Local Copra and Coconut Oil Prices on the Rise
Crude coconut oil in the Philippines remained relatively stable, closing the week at ₱88.25-88.75/kilo, while RBD coconut oil prices were steady at ₱106.25-153.00/kilo.
Desiccated Coconut and Husked Nuts Markets Steady
The desiccated coconut market has demonstrated stability for the tenth consecutive week, with export prices remaining constant at 80-125¢/lb FOB. Meanwhile, domestic prices experienced a slight increase, reaching ₱5,129-5,414 per 100 lbs. bag.
Export Challenges in the Coconut Sector
Coconut product export volumes have declined compared to 2023. In October, coconut oil exports dropped by 80.7%, while copra meal exports fell by 44.4%.
The cumulative export figures for 2024 reveal a mixed picture. Coconut oil exports increased by 16.9% year-on-year, but desiccated coconut have suffered significant declines.
Future Outlook
The coconut oil industry is experiencing steady demand in international and domestic markets, leading to increasing prices for coconut products. Whether these price rises continue depends on whether manufacturers stick with coconut or move to cheaper alternatives as margins tighten.
Why not subscribe to receive the latest market news straight to your inbox to clinch the best deal!
November 4, 2024
Prices for coconut oil started the week strong, ranging from $1,745 to $1,755 per metric…
October 28, 2024
Price Trends and International Markets International coconut oil prices experienced a slight rebound this week,…
October 21, 2024
Price Movements in the International Coconut Market Coconut oil in Rotterdam traded at $1,718.50/MT CIF,…
October 14, 2024
In the week ending October 5, 2024, international prices for coconut oil in Europe dropped…
October 7, 2024
In the week ending September 28, 2024, international coconut oil prices in Europe increased slightly…
September 23, 2024
The price of coconut oil has increased slightly, while prices for palm kernel oil and…
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...