Coconut oil may become a luxury for Ukrainians: why global prices are breaking records

Ordinary coconut oil is gradually becoming a premium product. Prices for it in Asia are rising rapidly due to weak supply and booming demand, reports Reuters. India, being the largest producer and consumer of coconut oil, naturally sees the product's cost reaching an exorbitant $4,840 per ton, while globally it is almost $3,000—which is also a historical record. The rapid price increase began in the second half of 2024. Key factors were disruptions in production across the Asian region caused by seasons with less rainfall, prolonged heat, and a greater number of pests and diseases. Producers forecast a price range of $2,500 to $2,700 per ton for the second half of this year. For example, just two years ago, in 2023, this figure was around $1,000. It should not be overlooked that coconut oil is a popular ingredient in shampoos and skincare products due to its high lauric acid content. These products may also become more expensive. According to the U.S. Department of Agriculture, ...