Coconut Oil prices in the Philippines went down in the first half of November after a 3% drop in October. The early November weakness was due to slow international demand, lack of forward buying and sufficient inventory, which prevented prices from going up. Indonesian suppliers were competitive, and export was stable, while logistics and port operations were smooth, so shipment was steady. In October, Coconut Oil FOB Quezon went down due to oversupply from accelerated milling before typhoon disruptions, lower copra prices and cautious international buying. Domestic consumption was steady, supporting the baseline trade but overall activity was slow as buyers waited for clearer market signals. Seasonal demand was moderate and trading volume was slow as both importers and processors were cautious. According to market sources, Coconut Oil prices will continue to go down in the second half of November. Limited buying, enough inventory and competitive origin offers will keep the market weak and prices down.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
