Philippine Export of Coconut Products Down in August

Official data from the Philippine Statistics Authority show the Philippines exported in August 171,696 MT of coconut products expressed in copra terms, a slight drop by 6.3% from same month last year at 183,253 MT.  Gross export receipts, however, leaped 12.8% to USD153.585 million from USD136.110 million propelled by improved prices.

Export of coconut oil fell 12.9% year-on-year to 85,963 MT from 98,650 MT while by-product copra meal clipped last year total by 72.3% to 7,730 MT from 27,930 MT.  Desiccated coconut shipment contracted 11.4% to 13,103 MT from 14,794 MT while oleochemicals rocketed 295.1% to 14,989 MT as copra from 3,793 MT.

Other products performed as follows, in MT: coco shell charcoal 854 (-89.9% from 8,490 last year), activated carbon 6,499 (+8.6% from 5,983), virgin coconut oil 2,600 (+42.8% from 1,821), coco water 60,093 liters (-97.2% from 2.163 million liters), fresh coconuts 67 (-44.6% from 121), Others 29,503 (+38.9% from 21,246). 

Total export for the eight-month period to August reached 1,151,935 MT in copra terms, a reduction by 20.1% from 1,441,097 MT at the same time last year.  While revenue topped the USD1.00 billion mark during the period at USD1.070 billion, the figure lagged 5.8% from year-ago at USD1.136 billion.

Breakdown of export by volume is as follows, in MT: coconut oil 580,906 (795,220 last year), copra meal 125,245 (211,768), desiccated coconut 98,806 (96,587), oleochemicals as copra 77,100 (27,924); Coco shell charcoal 53,880 (52,693), activated carbon 52,781 (53,278), virgin coconut oil 16,734 (14,683), coco water 12.404 million liters (48.555 million), fresh coconuts 463 (1,598), Others 200,611 (122,055).

Philippine Export of Coconut Products Down in August

Philippine export of coconut products in August totaled 135,508 MT in copra terms, based on UCAP estimate.  This is 26.3% behind August last year at 183,762 MT but nearly tripled last month total estimated at 49,163 MT. 
All export products under review suffered double-digit year-on-year decline.  Export of coconut oil dropped 26.1% to 73,124 MT from 98,971 MT.  However, volume this month exceeded the prior 7-month average (January-July) at 70,740 MT by 3.4%.  
Bulk of this month coconut oil shipment went to Europe at 29,800 MT (40.8%) and delivery to the US, the second major market, was 25,100 MT (34.3%).  The remaining 25% was destined to Asia, led by Indonesia at 8,000 MT (10.9%), trailed by Malaysia at 6,000 MT (8.2%), South Korea 2,499 MT (3.4%) and Japan 1,725 MT (2.4%).
 
External trade of copra meal at 18,900 MT slumped 32.3% from 27,930 MT but was mildly below the monthly average at 19,129 MT by 1.2%.  The shipment was shared by South Korea and India with the former taking in two-thirds (66.7%) or 12,600 MT and India the remaining one-third (33.3%) or 6,300 MT.
Outbound load of desiccated coconut at 10,907 MT scaled back last year figure at 14,794 MT by 26.3% while oleochemicals at 2,575 MT as copra trimmed last year total at 3,793 MT by 32.1%.  Both products did not fare well with respective monthly averages at 11,482 MT and 7,097 MT. 
Export for the eight-month period to August accumulated to 1,071,086 MT in copra terms to record a deficit of 25.7% from 1,441,605 MT at the same time last year.  Oleochemical remained a growth sector during the period recording 60.3% increment.  Breakdown is as follows, in MT: coconut oil 568,306 (796,541 last year), copra meal 133,672 (211,768), desiccated coconut 80,374 (96,587), oleochemicals as copra 44,749 (27,924).