Combined Exports of Major Copra Meal Producers Up in April

According to collated data from the Philippines Statistics Authority and Oil World, the combined export of copra meal by the Philippines and Indonesia in April this year showed  a whopping increase by 365.0% to 83,702 MT from 18,000 MT in a similar month year-earlier. The huge increment was on account of low statistical base year comparison due to the absence of shipment from the Philippines in the previous year. 

Export from the Philippines at 33,703 MT (no export recorded year-ago) accounted for  40.3% of combined volume. There were five country destinations led by South Korea at 12,924 MT ( 38.3%), followed by China at 9,900 MT (29.4%), Vietnam 7,368 MT (21.9%), India 2,011 (6%) and Taiwan 1,499 MT (4.4%).  Shipment from Indonesia shared 59.7%  at 50,000 MT (18,000 MT year-ago) and were channeled to three destinations: South Korea at 26,000 MT (52.0%), India 20,000 MT (40%) and Vietnam 4,000 MT (8%).

The cumulative figure for January-April at 253,186 MT increased by 168.0% from 94,457 MT in the same period year-ago driven largely by increased shipment from the Philippines.  Export from the Philippines at 133,186 MT was more than four times the prior year data at 29,457 MT, while delivery from Indonesia at 120,000 rose by 84.6% from prior year at 65,000 MT.  In terms of market share, the Philippines was responsible for 52.6% and Indonesia 47.4%.