COCONUT MARKET REPORT 30th January 2024

Last updated: 31 Jan 2024  |  64 Views  | 

COCONUT MARKET REPORT 30th January 2024

Dear Valued Customer,

We hope this communication finds you well. We would like to inform you about developments in the coconut market.

Market Conditions:

This week, we anticipate an increase in coconut prices due to a low arrival of raw materials. Unfortunately, this situation is expected to exacerbate further due to the influence of El Niño, leading to anticipated price hikes in the near future. Prices have already increased between USD 70 to 100 per mt (depending on the mill)

Factory Capacity and Shipment Schedule:

Factories have limited capacity because of low availability of raw material. Products from Indonesia are completely sold out for February, with very limited availability for March. However, starting from April onwards, they are readily available. From Philippines, will be June onwards.

Impact of Ramadan/Fasting Month:

With the upcoming Ramadan/fasting month, factory production is expected to decrease as workers observe fasting. Consequently, there will be a substantial reduction in output, resulting in very limited quantities available in March and largely from April onwards.

Inventory Status:

Regrettably, our February inventory is fully sold out. While we have limited availability for March, we strongly encourage you to promptly assess your coconut requirements and communicate your needs to secure the available quantity.

Your Action is Needed:

To mitigate the impact of these market dynamics on your operations, we recommend reviewing your coconut requirements promptly and adjusting your procurement plans accordingly. Your prompt communication of your needs will enable us to accommodate your orders within the available capacity.

Planning Ahead:

Given the expected challenges in the coming months, we advise you to plan your coconut procurement well in advance. Early orders will be essential to securing the necessary coconut supply for your business.

We understand the significance of this information for your planning and decision-making. Should you have any questions or require further clarification, please do not hesitate to reach out to us. We appreciate your partnership and are committed to supporting you through these challenging market conditions.

Thanking you

PANTHEON INGREDIENTS LLC


THE INFORMATION PROVIDED IN THIS REPORT IS AN EXPRESSION OF OUR CONSIDERED OPINION AND IS FOR INFORMATIONAL PURPOSES ONLY. TRADING AGRICULTURAL COMMODITIES INVOLVES RISKS AND READERS SHOULD DO THEIR OWN RESEARCH BEFORE MAKING A PURCHASE DECISION.

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