Global coconut oil price rally to continue in 2022 on boosting demand

Published 2022년 2월 9일

Tridge summary

The 'World – Coconut (Copra) Oil – Market Analysis, Forecast, Size, Trends and Insights' report by IndexBox forecasts a moderate increase in coconut oil prices in 2022, driven by limited supply and rising logistic costs. The average annual price is expected to reach $1,674 per tonne, building on a 62% increase in 2021. This surge is attributed to high demand and reduced global production, despite continued strong demand. The U.S., the Netherlands, and Malaysia were the leading importing countries, with the Philippines and Indonesia being the primary exporters.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

IndexBox has just published a new report: ‘World – Coconut (Copra) Oil – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings. Coconut oil prices will grow moderately this year, following the fundamental trend relevant to all vegetable oils. The average annual coconut oil price is set to grow by 2.3% y-o-y to $1,674 per tonne in 2022 due to limited supply and rising logistic costs. The average annual coconut oil price is forecast to rise by 2.3% y-o-y to $1,674 per tonne in 2022 (IndexBox calculates based on World Bank’s data). In 2021, the average annual coconut oil price soared by 62% y-o-y to $1,636 per tonne. Limited supply and high freight rates were the main drivers of that increase. Rising prices for other vegetable oils that follow the same fundamental trend also contribute to the price growth of coconut oil. Related Content: According to IndexBox estimates based on USDA data, global coconut oil production declined ...

Source: Globaltrademag