Philippine Export of Coconut Products Down in DecemberThursday, January 30, 2020
UCAP preliminary data show Philippine export of coconut products totaled 127,049 MT in copra terms in December, dropping 26.0% from same month last year at 171,779 MT and off by 19.0% from November unofficial figure at 156,893 MT.
Compared to the average in the past 11 months (January-November) at 175,728 MT, this month total coconut export lagged behind by 27.7%. On by sector basis, only copra meal and oleochemicals exceeded respective monthly averages.
Coconut oil shipment at 64,985 MT trimmed last year total at 94,487 MT by 31.2%, dragging total coconut products export for the month almost exclusively. The figure is 32.4% below the monthly average at 96,112 MT. More than half of the month’s delivery (55.3%) at 35,960 MT went to Europe. Malaysia was second biggest importer during the month at 14,000 MT (21.5%), dislodging consistent second placer the US which slipped to third place with 12,825 MT (19.7%). Japan took in 2,200 MT (3.4%).
Copra meal export at 28,100 MT leaped 23.2% from last year at 22,807 MT, reversing two consecutive months of year-on-year decline. The total also bested the monthly average at 24,987 MT by 12.5%. Korea was leading destination responsible for 44.8% at 12,600 MT, trailed by Vietnam at 9,350 MT (33.3%) and India at 6,150 MT (21.9%).
Export of desiccated coconut at 12,613 MT climbed 12.5% from 11,210 MT. This is fractionally lower than average at 12,638 MT. On the other hand, external trade in oleochemicals edged lower by 1.6% at 4,398 MT as copra from 4,468 MT but surpassed the average at 3,630 MT by 21.2%.
Coconut products export in calendar year 2019, based on UCAP estimates, aggregated 2,058,001 MT in copra terms, beating last year performance at 1,760,844 MT by 16.9%. Coconut oil and desiccated coconut remained growth drivers, exceeding prior year figures by 18.0% and 17.9%, respectively. Breakdown is as follows, in MT: coconut oil 1,122,220 (951,353 last year), copra meal 302,960 (400,759), desiccated coconut 150,816 (127,889), oleochemicals as copra 43,527 (53,034).