Coconut Price Trend and Forecast

Coconut Regional Price Overview

Get the latest insights on price movement and trend analysis of Coconut in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Coconut Price Trend for the First Half of 2024

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Demand for organic coconuts and other materials from Southeast Asia is rising due to fears of severe weather events in 2024. In the discussed two quarters, demand for Southeast Asian-imported coconut ingredients increased, driven by concerns over an El Nino season. This has particularly affected coconut commodities from the Philippines and Sri Lanka. Songkran Festival holiday in Thailand also pushed the demand for coconut. In the Indian markets, the strong heatwaves stirred up end consumer demands for coconut further strengthening the market prices in the continent.
 

Coconut Price Chart

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In the Malaysian market, the monthly average prices went from about 676 USD/MT (CIF) in January to around 756 USD/MT (CIF) in June’24. Similarly, in the Indonesian markets, the monthly average prices went from about 641 USD/MT (EXW) in January’24 to approximately 720 USD/MT in June’24. Prices were more stable in domestic Indonesian and Philippines markets in the second quarter as the supply and demand equation was more balanced domestically. Incurring supplies were able to cater to the rising demands. Overall, a largely positive market trajectory was observed for coconuts during the said time period.

Analyst Insight

According to Procurement Resource, the demand outlook is expected to remain elevated for coconuts in the ongoing summer season going forward as well. Therefore, the market projection is optimistic.
 

Coconut Price Index for the Q1 of 2024

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Coconut Price Trend for the Second Half of 2023

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The coconut prices were observed to be fluctuating within a narrow range during the said period of the year 2023. In the Indonesian market, the monthly average prices for coconut went from around 600 USD/MT (Indonesia, EXW) in July to about 645 USD/MT in December’23. Similarly, in the Malaysian market, the monthly average prices (Malaysia, CIF) went from around 645 USD/MT (Malaysia, CIF) in July to about 680 USD/MT in December’23.

The general market sentiments were largely positive despite some reverse fluctuations during the time of quarter change. To support the robustness of the Indian coconut market, the Government of India approved a 2.7% rise in the MSP of milling copra and a 2% rise in the ball copra. These initiatives are supporting the projections of the coconut market in the coming months. Overall, positive market sentiments were witnessed.

Analyst Insight

According to Procurement Resource, the Coconut price trends are expected to rise going forward, given the current supportive supply and demand dynamics.
 

Coconut Price Trend for the First Half of 2023

In India, the production of coconut took a downward trend in the first two quarters of 2023, which affected its market availability. The rates of exports, however, grew by almost 10%, which further depleted the inventory levels. However, the export routes were disrupted by feeble cargo movement and the reluctance of shipping lines to deliver the product to Russia, which, along with Ukraine, forms almost 75 percent of the export volumes of coconut from India.

Thus, the result of low production and high demand from both domestic and international markets positively affected the growth of coconut prices, especially in the first quarter. The rise in the prices of coconut in some of the regions was by almost 50%. The trend, however, slowed down towards the end months of the second quarter after the market reached its saturation point.

Analyst Insight

According to Procurement Resource, the price of Coconut is expected to oscillate with the availability of the product in the markets and its demand.

Procurement Resource provides latest prices of Coconut. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.