Philippine coconut oil prices, vulnerable to global prices

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 ...