News article from Bworldonline.com by Bettina Faye V. Roc
This news will benefit the coconut industry in the sense that coconut water could be a great potential export product in the future, despite the fact that it only constitutes (approximately) 0.7 % of other coconut products being exported by the Philippines (as of 2010). Furthermore, the discovery of the increasing demand for coco water abroad serves as a stepping-stone for the stakeholders of the coconut industry to fully explore other coconut products, which possess an untapped market that could later on generate great profits.
Despite the intense growth of the demand for coco water abroad, a probable threat is the unstable economic conditions of the major importers for coconut products such the U.S. and Europe. Eighty percent of the coco water exports goes to the U.S. Other top buyers of coconut water are the Netherlands, Singapore, Hong Kong, and Australia. On the other hand, Europe is the major importer of other coconut products such as coconut oil.
The goal of the group’s industry analysis is to position the Coconut industry by recommending the appropriate target market for each coconut product and choosing the products with the highest potential where the industry could focus more. This news could help the group in their analysis of the industry since it shows that there are coconut products that are not marketed properly and not given enough attention, but can contribute in the development of the industry. In addition, the news can help provide data in analyzing the trade offs of coconut products, and overall, provide a better understanding of the industry as a whole and the profitability of coconut products.