Market Update 17th December 2024
December 17, 2024
Global demand for desiccated coconut continues to grow, with export prices reaching 80-140¢/lb FOB, an…
Update on Typhoons in the Philippines 13th November 2020
The Philippines is just coming out of the third major typhoon in five weeks, there has been significant flooding, long term power outages and major wind damage and unfortunately losses of life.
While businesses in the Philippines are no stranger to typhoons and have major planning infostructures in place to cope with the typhoons, there are inevitable breaks in production, that cannot be avoided, caused by all the above and the most important thing is the safety of the senior staff from the main offices in Manilla to all the working on the factory floors.
The farmers are also massively affected, plus the damage to the crops (not just coconuts and bananas) that then need to recover from.
Ships are delayed, as ports are closed as the typhoons pass over and staff stay at home.
Right now, we do not know the full extent of any damage caused by the latest typhoon.
All we can say is that current delays will inevitably get a little longer and that it is not the end of the season (last year’s season lasted into the very beginning of January).
We are now seeing prices increase rapidly across desiccated and oil and shipping charges are going up as well.
Waiting to place orders is no longer a good strategy for the rest of 2020.
