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The move had a ripple effect on the coconut market. In lieu of palm oil, the domestic demand for Sri Lanka’s coconut oil has increased exponentially, and suppliers are having a hard time keeping up.
Small Price Increases Pale in Effect Compared to Continued Freight Increases
As coconut manufacturers start to catch up with supply chain requirements, external logistics factors including further surges in freight pricing, limited shipping space, and extreme port delays keep demand and pricing high.
Tightening Supply Chains Cause Rising Costs and Delayed Shipments in Organic Coconut Market March 2021
The Philippines, one of the largest coconut exporters in the world, has been hard hit by the Covid-19 pandemic. Further stressing coconut imports, is a global shortage of shipping containers.
As coconut supply chains try to recover from Covid-19 related interruptions, a whole new problem takes its toll. Typhoon Vamco, the fifth major storm to hit The Philippines in 3 weeks, made landfall on Wednesday night.