The Price of Coconut Oil is SkyRocketing. In Asian Countries, The Price Has Almost Tripled in Two Years, Making the Ingredient Increasingly A Luxury Product.
Prices Are Now So High Due to Poor Harvests, Heat Waves, Pests, And Years of Neglected Plantations, Writes News Agency Reuters . In India, The Price of A Ton of Coconut Oil Has Reached a Record High or 423,000 Rupees (About 4.174 euros). On the world market, a ton is sold for about 2,568 euros.
The Price Increase Affects Coconut Oil and also Cosmetics, Such As Body Lotion, Lip Balm, Shampoo and Conditioner, Where Coconut Oil is used. But also Products Such as Coconut Water, Margarine, Coconut Milk and Alternatives Such As Palm, Soy and Sunflower Oil Are Becoming More Expendive.
Meanwhile, The Demand for Coconut is growing all over the world, including in Europe. There Are Plans for New Plantations in Several Countries, But Thesis Will Only Bear Fruit in Four to Five Years. Analysts Therefore Expect Prices to Remain High for the Time Being.