Philippine Export of Coconut Products Up in AprilThursday, May 31, 2018
UCAP preliminary data reveal Philippine export of coconut products in April jumped 45.2% year-on-year to 151,748 MT in copra terms from 104,530 MT and likewise spiked 6.0% from prior month unofficial total at 143,167 MT. Moreover, the figure bested by 27.5% the monthly average during the first quarter (January-March average) at 118,975 MT. All products in review but copra meal likewise exceeded their respective monthly average data.
Export of coconut oil at 84,828 MT represented a magnified increase by 47.5% from last year at 57,530 MT and beat the monthly average at 65,829 MT by 28.9%. This month preliminary data is by far the highest this year. Bulk of the month’s shipment (62.5%) was destined for the European market at 53,028 MT. The US uptake at 24,200 MT comprised 28.5% of total trade. Other destinations were Indonesia and Japan with respective volume at 5,000 MT (5.9%) and 2,600 MT (3.1%).
Delivery of copra meal totaled 32,880 MT. However, at the same time last year, there was no reported export of the commodity. This month data is only 0.9% shy of the monthly average at 33,184 MT. Korea took in more than one-half (57.5%) of the month’s aggregate shipment with 18,900 MT, while Vietnam held 9,480 MT (28.8%) and China 4,500 MT (13.7%). India, the top buyer in the last two months was conspicuously absent this month.
Desiccated coconut export shot up 51.8% to 8,441 MT from 5,560 MT last year and likewise improved on the monthly average at 8,116 MT by 4.0%. This contrasted with oleochemicals which reduced shipment by 11.4% at 4,050 MT as copra from 4,570 MT. Nevertheless, current month tonnage massively outstripped the monthly average at 1,937 MT by a whopping 109.1%. There was no reported export of copra since the start of the year, although last year, record showed a shipment of 47 MT in April.
January-April export reached 508,674 MT in copra terms, still behind last year at 630,271 MT by 19.3%. Breakdown is as follows, in MT: copra nil (47 last year), coconut oil 282,315 (356,368), copra meal 132,432 (29,457), desiccated coconut 32,789 (27,970), oleochemicals as copra 9,860 (21,317).