Demand for Canola and Blended Oils in Philippines is Expected to Rise in near Future: Ken Research
Demand for Canola and Blended Oils in Philippines is Expected to Rise in near Future: Ken Research Food & Beverages As of 2016, Philippines is one of the largest exporters of coconuts and coconut oil in the world. However, coconut oil has now become a more export oriented commodity and is used less for domestic consumption purposes. It is gradually being replaced by palm oil in the recent years. The market for cooking oil in Philippines is still at a growing stage as number of brands in the country is less compared to other Asian countries. Moreover, blended oil segment still remains an untapped market in the space. The different type of cooking oil in the Philippines Cooking Oil market include palm oil, coconut oil, soybean oil, canola oil, corn oil and others. The most important reason for the largest share of palm oil is that it is readily available and reasonably priced (average retail price prevailing in Philippines PHP 30.4 per liter in 2016). Philippines ha...