Philippine Export of Coconut Products Up in July

Philippine export of coconut products in July, according to UCAP preliminary data, totaled 141,074 MT in copra terms, recording a slower year-on-year growth of 7.9% over same month last year at 130,738 MT and likewise exceeding previous month unofficial data at 134,535 MT by 4.9%.  The increase came largely from coconut oil.  

Total export figure this month was 13.3% above the monthly average of the last six months (January-June) at 124,562 MT.  All products but copra meal surpassed respective monthly averages.  

Coconut oil shipment was 76,532 MT, a climb by 12.4% from prior year at 68,084 MT. The figure would have been higher if the 5,000 MT scheduled for shipment this month was loaded. This volume will now slide to August data.  Export this month was above the monthly average at 68,536 MT by 11.7%.  The US was top destination accounting for nearly one-half of the total or 37,751 MT (49.3%) while shipment to Europe at 34,281 MT was 44.8%.  Japan took in 4,500 MT or 5.9%. 

External trade of copra meal at 21,400 MT leaped 57.7% from last year at 13,566 MT but was below the average at 35,843 MT by 40.3%.  There were only two importers, Korea and China.  Bulk of the month’s shipment at 18,400 MT (86.0%) went to Korea and the balance 3,000 MT to China (14.0%). 

Overseas delivery of desiccated coconut at 9,278 MT was scaled back by 27.8% when compared with last year at 12,844 MT but bested the monthly average at 7,377 MT by 25.8%.  On the other hand, shipment of oleochemicals at 5,250 MT as copra shot up 86.8% from 2,811 MT and likewise outpaced the monthly average at 4,362 MT by 20.4%.   There was no reported export of copra during the month as last year.  However, official data showed 24 MT was shipped out in May, higher by 47.4% from same month last year at 16 MT.   

January-July export accumulated to 888,471 MT in copra terms, lower by 8.8% compared to 973,826 MT at the same time year-ago.  Breakdown is as follows, in MT: copra 69 (88 last year), coconut oil 487,750 (533,888), copra meal 236,458 (84,803), desiccated coconut 53,537 (57,866), oleochemicals as copra 31,424 (36,832).