Since the paleo diet started to become a thing in 2011, coconut oil has been hailed as a superfood with many health benefits.
But there are now many challenges to that assertion. The American Heart Association, for one, has said that the saturated fats (of which coconut oil has 80%) play a major part in cardiovascular disease. In addition, the AMA asserted that most vegetable-based oils were far better for our heart health over butter or oil. Sales of coconut oil slumped a year later.
More and more experts have jumped in to challenge coconut oil’s health benefits and its effect has been felt on wholesale prices that have fallen by more than 50 percent. It didn’t help that vegetable-based oils have also become cheaper, making coconut oil the more expensive option.
According to The Wall Street Journal, industrial coconut oil’s wholesale price averaged $786 per metric ton as of November 2018.
That’s a 58 percent drop compared to its record high price of $1,869 in June 2017, based on World Bank data. And not surprisingly, coconut oil imports into the United States also fell 4 percent in the one year period between September 2017 and 2018.
Data from the United States Department of Agriculture also suggests that coconut oil is not as widely used as before. Between 2017 and 2018, Americans consumed 437,000 metric tons of coconut oil, compared to 562,000 metric tons between 2014 and 2015. Since industrial use didn’t fluctuate much during those periods, the drop in usage is more than likely to be because of lesser individual consumption.
Brierley Horton, Cooking Light’s nutrition director, has explained before that coconut oil’s health concerns are not limited to its saturated fat content.
Low-density lipoproteins (LDL cholesterol or “bad” cholesterol) found in coconut oil were previously shown to increase overall levels in the body with regular consumption. The American Heart Association had also released guidelines saying that saturated fat should comprise less than 10 percent of one’s daily caloric intake.
Horton adds that it’s not about moderation but rather, heavy consumption of coconut oil has an effect on cardiovascular health and that cooking alternatives must be used. Trends suggest that home cooks may be ditching coconut oil for other alternatives such as avocado oil, said Dorab Mistry, who is a vegetable oil analyst with Godrej International.
He explained that demand for oil “tends to move with whatever has captured the imagination of discerning consumers.”
One positive effect of the lower coconut oil prices (apart from those who continue to use it) would be in the beauty industry. Manufacturers often use coconut oils for beauty products from shampoo all the way to skin care products.
Recommended Video!
“Pastry Chef Challenged to Make a Life Size Toilet Bowl Cake Which Actually Flushes”