Philippine Export of Coconut Products Down in June

Thursday, September 10, 2020

Official figures from the Philippine Statistics Authority show Philippine coconut products export in June was 179,836 MT in copra terms, declining significantly by 24.8% from 239,101 MT in a similar month last year.  Gross export receipts, however, fell only slightly by 4.4% from USD171.406 million to USD163.794 million as prices appreciably recovered from last year.

Export of coconut oil, copra meal and desiccated coconut declined year-on-year during the month while oleochemicals rallied.  Coconut oil shipment at 92,625 MT was a sharp reduction by 31.5% from 135,308 MT last year.  Copra meal at 12,759 MT plunged 60.4% from 32,241 MT.  Desiccated coconut at 12,347 MT trimmed by 13.3% last year export at 14,235 MT.  In contrast, oleochemicals posted magnified growth of 491.9% at 13,723 MT as copra from 2,318 MT.   

Other products performed as follows, in MT:  coco shell charcoal 9,182 (+26.8% from 7,241 last year), activated carbon 6,873 (+9.1% from 6,298), virgin coconut oil 2,484 (-3.1% from 2,564), coco water 4.313 million liters (-55.2% from 9.623 million), fresh coconuts 44 ( 68.0% from 136), Others 31,037 (+114.6% from14,464). 

Export during the first half of this year tallied 911,484 MT in copra terms, a contraction by 16.0% from 1,084,966 MT at the same time last year.  Revenue at USD806.718 million fell 7.1% from USD868.211 million.  Desiccated coconut and oleochemicals remained growth sectors, exceeding previous year data by 3.4% and 116.9%, respectively.

Breakdown of export is as follows, in MT:  coconut oil 474,861 (602,880 last year), copra meal 114,773 (157,410), desiccated coconut 70,721 (68,366), oleochemicals as copra 48,396 (22,314); coco shell charcoal 43,556 (36,585), activated carbon 38,386 (41,088), virgin coconut oil 11,110 (11,222), coco water 12.214 million liters (45.544 million), fresh coconuts 155 (1,116), Others 138,446 (75,932). 

Philippine Export of Coconut Products Down in June

Thursday, August 6, 2020

UCAP estimates show Philippine export of coconut products in June suffered another year-on-year drop for the fourth straight month.  Total at 142,081 MT in copra terms declined 40.6% from 185,024 MT last year although against previous month unofficial total at 86,381 MT, export this month reflected a radical recovery by 64.5%.  Moreover, the figure is the third highest during the six-month period and bested the five-month average (January-May) at 138,290 MT.   All export products but oleochemicals posted deficits from last year.

Coconut oil export dived 42.4% at 77,930 MT from prior year total at 135,308 MT. Considering the usual average monthly shipment that range 80,000-100,000 MT, last year shipment was extraordinarily high. Thus, the wide decrement. Compared to the five-month average at 72,889 MT, current month export performed satisfactorily.  Europe was still top destination responsible for almost half (49.7%) of total trade with uptake at 38,700 MT.  The US likewise cornered a huge part (43.3%) of total lifting with 33,730 MT, a marked improvement from last month sale preliminarily reported at 500 MT.  Other destinations were Malaysia with 3,000 MT and Japan with 2,500 MT for respective market share of 3.8% and 3.2%. 

Shipment of copra meal, a by-product of coconut oil milling, similarly contracted.  Total at 12,350 MT squeezed last year delivery at 32,241 MT by 61.7%.  The figure was far lower than the five-month average at 21,006 MT.  All the month’s shipment went to India.  

External trade of desiccated coconut at 9,900 MT trimmed last year total at 14,235 MT by 30.5%.  The figure also fared below the five-month average at 11,190 MT.  By contrast, delivery of oleochemicals leaped 32.7% at 3,076 MT as copra from 2,318 MT but fell short from the five-month average at 5,293 MT.  

Total export for the first half of this year, based from UCAP estimate, was 833,532 MT in copra terms, marking a shortfall of 23.2% from 1,084,965 MT at the same time last year.  Oleochemical was the only growth sector during the six-month period, expanding last year shipment by 32.4%.   Breakdown is as follows, in MT: coconut oil 442,374 (602,880 last year), copra meal 117,382 (157,410), desiccated coconut 65,850 (68,366), oleochemicals as copra 29,542 (22,314).

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