Philippine Export of Coconut Products Up Sharply in June

Official data from the Philippine Statistics Authority show export of Philippine coconut products in June this year shot up 76.4% to 179,097 MT in copra terms from 101,526 MT in a similar month year-earlier.  This turned in USD194.785 million in export revenue, increasing only  20.3% over prior year at USD161.919 million, mainly on reduced coconut oil price. 

Coconut oil export rocketed 90.3% year-on-year to 99,481 MT from 52,277 MT, copra meal leaped 60.1% to 31,995 MT from 19,980 MT, desiccated coconut spiked 38.1% to 11,077 MT from 8,023 MT, while oleochemicals plunged 33.5% to 4,066 MT as copra from 6,118 MT.   There was no reported export of copra during the month as last year.  Other products performed as follows, in MT: coco shell charcoal 7,194 (+250.5% from 2,052 last year), activated carbon 6,108 (-12.1% from 6,950), virgin coconut oil 2,565 (-26.1% from 3,471), coconut water 7.784 million liters (+7.3% from 7.256 million), fresh coconuts 96,165 nuts  (+46.6% from 65,582 nuts), Others 12,149 (-39.2% from 19,996).

Total export for the first half of this year reached 791,960 MT in copra terms, a modest shortfall from same time last year data at 843,088 MT (-6.1%).  Gross export receipts nearly reached USD1.000 billion at USD943.266 million but was 16.7% behind last year at USD1.132 billion.  Breakdown by volume is as follows, in MT: copra 69 (86 last year), coconut oil 437,274 (465,804), copra meal 208,653 (71,237), desiccated coconut 46,839 (45,022), oleochemicals as copra 25,389 (34,021); coco shell charcoal 40,573 (16,861), activated carbon 35,169 (37,663), virgin coconut oil 10,849 (12,320), coconut water 38.380 million liters (40.586 million), fresh coconuts 722,968 nuts (583,475),  Others 53,047 (79,032).