The outlook for coconut pricing for the rest of 2020 looks extremely volatile and hard to predict. Other than it is clear that with extreme lock downs over Philippines and Indonesia, they are keeping their cases reported and deaths to very low levels, but at the expense of their industries and economies. In the Philippines, they have extended their lock down until end April, with many of the mills shut since mid-March. Other factories are running at less than 50% capacity and set against high fixed costs, it is unlikely that we won’t see some of them struggle to survive through this crisis.
Prices on California raisins are stable, although at the time of writing, they report that they are approaching the peak of their own virus “attack” and so under similar restrictions to those we are experiencing in the UK, they are prioritising the protection of the workers in their factories, as well as trying to keep their product moving.
Demand from China dried up and as European demand has plunged itself into the present parallel world to the one we all know and recognize, clearly demand from the various sectors has followed the same path of unreliability .
Mark Setterfield – April 2020