BULLISH MARKET OF COCONUT OIL IN THE FIRST HALF OF 2008

摘要

The coconut oil (CNO) market experienced an upward trend for the period July - December 2007. The price went up by 5.26%/ month for the said period. The average price was US 1,0107 dollarmetric ton, ranging from US 910 dollar to US 1,148 dollar (GIFRotterdam) with an instability index of 10.54%. The fundamental cause of the improved price is lower total production of coconut oil in the world by 6.65% at 2.88 millions metric tons for 2007 as opposed to 3.08 million metric tons in 2006. A low production of coconut oil in the Philippines plays a significant role in the total world production of the oil. The production of coconut oil in the Philippines decreased significantly to 1.1 million metric tons last year from 1.4 million metric tons a year ago (2006) or a decline of 21.4%.