Philippine Export of Coconut Products Down Slightly in December

UCAP preliminary data show export of Philippine coconut products in December fell 3.1% year-on-year to 135,180 MT in copra terms from 139,560 MT.  The figure likewise showed a 3.4% reduction from previous month unofficial data at 140,010 MT and was 5.2% short of the monthly average (January-November average) at 142,611 MT.    

Coconut oil export mildly dropped by 2.3% to 72,810 MT from 74,531 MT and was 5.3% behind the monthly average at 76,860 MT.  More than one-half (51.6%) of the month’s shipment went to the US at 37,550 MT while delivery to Europe accounted for 40.6% at 29,540 MT.  Other destinations were Malaysia at 3,000 MT (4.1%) and Japan at 2,720 MT (3.7%). 

Outbound load of copra meal likewise was scaled back by 7.6% at 32,455 MT from 35,128 MT but exceeded the monthly average at 19,643 MT by a whopping 65.2%.  Korea was a leading country importer with uptake at 20,542 MT responsible for nearly two-thirds (63.3%) of total sales.  India and Vietnam took delivery of 6,000 MT and 5,913 MT, respectively, holding almost equal market shares at 18.5% and 18.2%.  

Overseas purchases of desiccated coconut at 9,158 MT shrank 8.7% from 10,029 MT and posted a 7.3% shortfall from the monthly average at 9,877 MT.  On the other hand, shipment of oleochemicals suffered a 5.2% cutback at 5,450 MT as copra from 5,751 MT but bested the monthly average at 5,333 MT by 2.2%.  There was no reported export of copra during the month, as of this report, as last year; no shipment was registered since July.    

Total export for calendar year 2017 was estimated at 1,711,340 MT in copra terms, materially surpassing by 28.1% a similar period year-ago total at 1,335,752 MT.  All products in review but copra meal posted double-digit growth.  Breakdown is as follows, in MT (after adjustments in October official data): copra 88 (59 last year), coconut oil 922,321 (726,827), copra meal 235,718 (274,609), desiccated coconut 118,526 (91,220), oleochemicals as copra 64,000 (40,967).