Philippine Export of Coconut Products Up in October 2018

Official data from the Philippine Statistics Authority show Philippine export of coconut products in October 2018 increased 16.6% over same month year-earlier.  Total was 156,645 MT in copra terms, rising from 134,384 MT.  Gross export receipts, however, fell 13.4% to USD162.846 million from USD188.143 million largely on account of substantial reduction in coconut oil revenue.

Export of coconut oil climbed 22.3% to 80,656 MT from 65,944 MT and that of copra meal spiked 32.8% to 51,973 MT from 39,138 MT.  Shipment of desiccated coconut, however, declined 13.2% to 14,057 MT from 16,187 MT while that of oleochemicals shot up 47.0% to 6,887 MT as copra from 4,685 MT.  There was no export of copra as last year.

Other products performed as follows, in MT: coco shell charcoal 5,447 (+52.0% from 3,584 last year), activated carbon 7,231 (+19.8% from 6,034), virgin coconut oil 3,225 (+30.8% from 2,465), coco water 6.431 million liters (+43.6% from 4.477 million), fresh coconuts 169,049 nuts (-2.2% from 172,864), Others 10,925 (+21.8% from 8,968).

Export in January-October accumulated to 1,368,206 MT in copra terms, a slight drop by 4.7% from 1,436,147 MT at the same time year-ago.  Corresponding revenue, however, at USD1.561 billion posted substantial deficit of 19.8% from USD1.946 billion.

Breakdown of export by volume is as follows, MT: copra 92 (88 year-ago), coconut oil 730,315 (773,192), copra meal 323,988 (187,048), desiccated coconut 105,440 (100,818), oleochemicals as copra 45,866 (52,899); Coco shell charcoal 64,983 (27,327), activated carbon 62,032 (60,384), virgin coconut oil 21,125 (23,591), coco water 67.462 million liters (76.025 million), fresh coconuts 1.200 million nuts (1.182 million), Others 97,253 (120,198).