Water, Milk or Shampoo: Coconut's Versatility Stokes Planting Boom
- Philippines production seen rising as old trees replanted
- Many uses makes coconuts the ‘Swiss Army Knife’ of plants
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Coconuts seem to be everywhere these days. Whether as “water” in PepsiCo Inc.’s Naked drink range, as “milk” in Starbucks Corp.’s coffees, as shampoo in L’Oreal SA’s products or even as a patty in Beyond Meat’s vegan burgers, the tropical fruit has captured new markets with a growing reputation as a healthy, natural product.
The popularity has been a boon for prices, with the cost of coconut oil alone more than doubling since its low in 2013. But it hasn’t translated into increased production as diseases, natural disasters and aging plantations kept global output stagnant over the past decade.