Philippine Export of Coconut Products Up in MarchThursday, May 2, 2019
Based from UCAP estimates, export of coconut products in March slightly increased from same month year-ago. Total at 153,527 MT in copra terms rose 4.1% from 147,456 MT. The increase was a massive 46.3% from prior month unofficial total at 104,953 MT. Coconut oil and desiccated coconut exceeded respective prior year shipments.
Coconut oil export climbed 5.0% at 86,950 MT from 82,847 MT last year, extending year-on-year monthly gains since the start of this year. More than one-half (52.7%) of the month’s shipment went to the European market at 45,850 MT while the US was responsible for nearly one-third (32.5%) at 28,250 MT. Other destinations were Malaysia with 8,000 MT, China 3,000 MT, and Japan 1,850 MT, for respective market share of 9.2%, 3.5% and 2.1%.
Shipment of copra meal in contrast slumped 34.7% at 20,800 MT from 31,841 MT. There were only two country buyers reported during the month: Vietnam, which took in bulk of the total at 15,000 MT to account for nearly three-fourths (72.1%), and South Korea with uptake at 5,800 MT (27.9%).
Another growth performer was desiccated coconut with delivery of 6,940 MT. This is a 32.2% spike from last year at 5,249 MT. Oleochemicals, on the other hand, trimmed export by 39% at 4,781 MT as copra from 7,837 MT. There was no export of copra on record during the month, as of this report, as last year.
Cumulative export in the first quarter of this year amounted to 397,939 MT in copra terms, beating the previous year total at 361,921 MT by 10.0%. Breakdown is as follows, in MT: coconut oil 221,185 (202,164 last year), copra meal 79,590 (99,593), desiccated coconut 23,707 (19,806), oleochemicals as copra 10,199 (10,404).