February 15, 2017
The market is incredibly firm. Philippines coconut growing areas were hit by typhoon Nock-Ten over the Christmas period, further disrupting an already tight global supply of raw nuts and related products, including desiccated coconut. There has been significant damage to coconut trees in the Luzon area, which will likely result in short supply of coconut products at least until the middle of 2017. Many shippers are booked until May. Initial reports are stating that up to 13 million trees have been damaged in varying degrees.