Philippine Export of Coconut Products Down in JulyThursday, October 25, 2018
Official data from the Philippine Statistics Authority show export of Philippines coconut products in July was 98,544 MT in copra terms, reducing same month last year total at 130,738 MT by 24.6%. Gross export receipts likewise declined by 29.4% to USD129.295 million from USD183.195 million. Sharp drops in coconut oil volume and price dragged totals downward.
Export of coconut oil plunged 31.2% to 46,826 MT from 68,084 MT to record the first year-on-year decline since April this year. Shipment of copra meal likewise fell 15.7% to 11,433 MT from 13,566 MT, the first deficit logged in the current year. External trade of desiccated at 13,871 MT bested last year at 12,844 MT by 8.0%, extending last month year-on-year growth. Delivery of oleochemicals contracted 2.3% to 2,747 MT as copra from 2,811 MT, a minor slide yet the third since May. Export of copra was reported at 24 MT vs. nil last year.
Other products performed as follows, in MT: coco shell charcoal 6,615 (+297.7% from 1,663 last year), activated carbon 6,340 (+22.6% from 5,173), virgin coconut oil 2,488 (+5.5% from 2,360), coconut water 8.578 million liters (+11.3% from 7.707 million), fresh coconuts 115,367 nuts (-13.8% from 133,781 nuts), Others 8,228 (-18.4% from 10,082).
Export for the seven-month period to July accumulated to 890,503 MT in copra terms. This showed a shortfall by 8.6% from 983,826 MT at the same time las year. Corresponding revenue breached the USD1.0 billion mark at USD1.073 billion but was down 18.6% from last year at USD1.318 billion.
Breakdown of shipment by commodity is as follows: copra 92 (88 last year), coconut oil 484,100 (533,888 last year), copra meal 220,086 (84,803), desiccated coconut 60,710 (57,866), oleochemicals as copra 28,136 (36,832); coco shell charcoal 47,187 (18,524), activated carbon 41,509 (42,835), virgin coconut oil 13,337 (14,680), coconut water 46.957 million liters (48.293 million), fresh coconuts 838,335 nuts (717,256), Others 61,275 (89,114).