Philippine coconut oil prices, vulnerable to global prices

게시됨 2023년 4월 17일

Tridge 요약

The Philippines, being one of the leading suppliers of coconut oil globally, is negatively affected by the product's dependence on global market prices for other oils. The country's share in the global vegetable oil market is minimal, leading to no bargaining power and prices being influenced by other vegetable oils such as palm, soybean, rapeseed, and sunflower oil. The ongoing conflict in Ukraine and a temporary ban on Indonesian palm oil exports have further impacted global vegetable oil prices. The recent decline in prices since May 2022, attributed to factors like the lifting of the ban, increased production, and new supply sources, has negatively affected the value of Philippine exports. This situation poses a significant challenge for Filipino coconut farmers who face the brunt of these price fluctuations and have few alternative crops or markets.

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원본 콘텐츠

Philippine coconut oil exporters are highly dependent on the dynamics of prices for other oils in the world market, even though the Philippines is one of the leading global suppliers of this product. This thesis is cited in the materials of the specialists of the National Coconut Industry Administration (Philippine Coconut Authority - PCA). "Coconut oil prices are vulnerable to global price movements as the product only holds a small share of the total global vegetable oil market and essentially has no bargaining power," Philippine Coconut Authority (PCA) researchers said in a recent analysis. The country provides about 45% of the world's supply of coconut oil (followed by Indonesia with about 22%), it accounts for only about 2-3% of the world's vegetable oil reserves. It was reported that the supply of palm oil, which has a market share of about 35%, had a significant impact on the prices of other vegetable oils such as soybean, rapeseed, sunflower and coconut. "Being ...

출처: Oilworld