Philippine Export of Coconut Products Up in JanuaryThursday, February 27, 2020
UCAP preliminary data show Philippine export of coconut products in January totaled 168,187 MT in copra terms, surpassing January last year at 139,459 MT by 20.6%. The figure, which also topped prior month unofficial total at 127,049 MT by 32.4%, is the highest recorded for a month of January since 2018.
Export of coconut oil jumped 23.3% year-on-year to 94,430 MT from 76,557 MT, likewise the highest tonnage for a month of January since 2018. Almost half (49.0%) of the month’s shipment was destined for the European market at 46,300 MT. The US accounted for 40.6% at 38,380 MT. Lower volumes were shipped to China at 5,000 MT, Malaysia 3,000 MT and Japan at 1,750 MT for respective market shares of 5.3%, 3.2%, and 1.9%.
Copra meal delivery totaled 21,090 MT, markedly cutting last year data at 32,060 MT by 34.2%. The figure was the lowest logged since 2018. There were only two country importers during the month, Vietnam and Korea. The former cornered 71.8% of total load at 15,090 MT and Korea took in 6,000 MT (28.4%).
Shipment of desiccated coconut at 10,464 MT increased 5.6% from 9,912 MT to record the highest lifting in a month of January since 2018. This contrasted with oleochemicals with reduced shipment by 19.0% at 2,120 MT as copra from 2,616 MT.