Coconut oil price reaches record high in July

The global price of coconut oil, which is widely used in confectionery, pharmaceuticals and cosmetics, reached a new record high in July, according to the World Bank.

According to the organization, the average price of coconut oil last month was $2,771 per ton, which was higher than the previous record of $2,766.8 reached in May. In monthly terms, the figure increased by 2.6%.

Coconut oil is widely used in the food industry – in particular, for the production of confectionery products, such as chocolate bars and sweets, ice cream, cakes and cookies. It can also be used for frying chips, popcorn and other snacks.

In pharmaceuticals, this oil is used to produce dietary supplements, and in cosmetics – in skin and hair products.

In addition, the price of soybean oil in July increased by 10.9% compared to the previous month – to the highest since January 2023 at $ 1,306.6 per ton. And the price of palm oil reached a three-month high of $ 974.97 per ton, rising by 4.2% month-on-month. At the same time, the price of rapeseed oil last month fell by 4% compared to June – to $ 1,202.37 per ton. The cost of sunflower oil also decreased – by 0.1%, to $ 1,195 per ton.

Tags: coconut oil, prices