Philippine Export of Coconut Products Down in December

Thursday, 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).

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