As previously reported, after seeing cyclical lows on pricing in 2019, prices were beginning to rise due the effects of extended dry season in 2019 putting stress on trees resulting in lower yields for the end of 2019.
Supply issues were further exacerbated throughout 2020 as there was a decrease in harvesting and processing due to the new measures and policies put in place to curb the spread of covid-19.
In late October/early November of this year, supply was further effected by a series of severe storms that came through the major coconut growing regions in the Philippines.
There is a lot of uncertainty moving into 2021. The impact of the storms that went through the Philippines late this year, is likely to have lasting effects well into next year.
Furthermore, typhoon season in the Philippines typically lasts through December and another storm could devastate an already precarious situation.
The ongoing effects of Covid-19 may also prove to further complicate supply and supply channels.
As the first half of 2021 will prove difficult for supply stability, we do appreciate all those who were able to book well in advance to help prepare during this time.
And as always, we will continue to do our utmost to provide the continued service that everyone has grown to depend upon from Klassic Coconut.
We will continue to update you in the new year.
Thank you for your continued support. Have a safe and happy holiday season.