Refined Coconut Oil Price Trend and Forecast

Regional Price Overview

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

Refined Coconut Oil Price Trend for the Second Half of 2023

Asia

Owing to the steady rise in downstream industry consumption rates, the refined coconut oil market started the third quarter on a positive note. As a result, the price of Indonesian refined coconut oil increased during that time. Nevertheless, a subsequent downturn was noted as purchases by the consumer sector steadily slowed down.

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Global logistical issues, such as shifting transportation prices and the emergence of less expensive substitutes, further complicated the dynamics of the industry. Notwithstanding these obstacles, the market for refined coconut oil concluded the year on a good note in terms of production costs. Malaysia, on the other hand, showed tenacity, seeing little fluctuation and only a minor decline in averages.

Europe

In the third quarter of 2023, European traders witnessed a notable increase in refined coconut oil price trends. This uptick was driven by exponentially rising demand from domestic consumers, boosting sentiments of refined coconut oil prices. However, producers faced challenges from adverse weather conditions, including sudden floods and erratic rainfall patterns, which reduced agricultural output and constrained material availability in the market. Nonetheless, market dynamics shifted in the fourth quarter due to the fragile state of the global economy and an excess of overseas imports.

North America

The interplay between the trading sector, demand, and production rates had a significant impact on the price trend of refined coconut oil in the third and fourth quarters of 2023. Prices for refined coconut oil rose in the third quarter due to a combination of a rise in export margins and increasing consumer demand.

The gap between supply and demand was also increased by an increase in bulk orders and the scarcity of raw materials, which contributed to the price trend upward. But by the end of the fourth quarter, stockpiles had grown, upending the fundamentals of the market for refined coconut oil.

Analyst Insight

According to Procurement Resource, the price trend of Refined Coconut Oil is estimated to incline further as the limited production and rise in demand will widen the gap between supply and demand sectors of the market.

Refined Coconut Oil Price Trend for the First Half of 2023

Asia

In the Asia-Pacific, the prices of refined coconut oil oscillated amid the uneven trend in demand from the downstream sector in the first quarter. The rise in stockpiles aided by high production rates only resulted in the downfall in the prices of refined coconut oil. In the second quarter, too, the falling cost of crude oil, the pressure of rising inventory levels, and slow demand from the consumer sector challenged the growth of the refined coconut oil price trend.

Europe

The first quarter of 2023 in European countries was similar to what was observed in Asia Pacific. The rise in production rates amid low demand led to the southward movement of refined coconut oil prices in the first half of the first quarter. The trend stabilized a little towards the end phase as the removal of export limitations benefited the momentum of refined coconut oil prices. This growth phase was short-lived as higher stockpiles and low demand affected the second-quarter price trend of refined coconut oil negatively.

North America

In North America, the downstream industries such as food and cosmetics showcased a mixed demand trend. The first half of the first quarter enjoyed inflation in food prices due to the ongoing Russia-Ukraine crisis and disruptions in the supply chains, but the second half struggled with the rise in number of stockpiles. The momentum continued to plunge in the second quarter, too, due to weak support from the export rates and a fall in the prices of corn, edible oils, and other grains.

Analyst Insight

According to Procurement Resource, the price trend of Refined Coconut Oil is estimated to struggle with high production rates and lower demand, which will likely result in an imbalance between supply-demand dynamics.

Procurement Resource provides latest prices of Refined Coconut Oil. 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.