Philippine Export of Coconut Products Up in AprilThursday, May 30, 2019
Export of coconut products in April totaled 146,792 MT in copra terms according to UCAP estimates, increasing appreciably by 15.2% from same month last year at 127,391 MT and continuing the year-on-year growth logged since February this year. The figure, however, trimmed last month unofficial figure at 153,527 MT by 4.4%. This month data likewise bested the monthly average during the first quarter of this year at 121,817 MT by 20.5%.
Coconut oil exclusively propelled total export growth. Shipment this month at 83,969 MT leaped 20.8% from prior year at 69,532 MT and likewise was 28% above the first quarter average at 65,608 MT. The total would have exceeded 100,000 MT but some volumes were left unloaded as scheduled this month. Half of the month’s shipment went to the European market at 42,000 MT. Malaysia was the month’s second biggest importer with uptake at 18,000 MT (21.4%), dislodging the US which held 11,245 MT (13.4%) to take the third spot. Other markets were China with 7,799 MT (9.3%), Indonesia 4,000 MT (4.8%) and Japan 925 MT (1.1%).
External trade of copra meal contracted 27.3% to 24,500 MT from 33,703 MT. The total was below the monthly average at 28,269 MT by 14.4%. There were only three country buyers. South Korea took the lead cornering 12,300 MT (50.2%). Vietnam followed with 8,900 MT and India 3,300 MT for respective market shares at 36.3% and 13.5%.
Desiccated coconut ship out at 6,070 MT lagged behind by 20.9% from last year at 7,671 MT. The figure similarly was 31.1% short from the monthly average at 8,814 MT. Oleochemicals also recorded a 20.1% shortfall in volume traded at 4,123 MT as copra from 5,163 MT a year ago as well as against the monthly average at 4,052 MT though only mildly by 1.8%.
January-April export accumulated to 529,886 MT in copra terms, a moderate rise by 8.3% from 489,312 MT in a comparable year-earlier period. Breakdown is as follows, in MT: coconut oil 291,741 (271,696 last year), copra meal 113,817 (133,295), desiccated coconut 33,610 (27,477), oleochemicals as copra 14,842 (15,567).