News
Philippine Export of Coconut Products Up Sharply in May
Thursday, August 25, 2022Official data from the Philippine Statistics Authority show coconut products export by the Philippines in May nearly doubled from May last year. Total at 209,589 MT in copra terms shot up 96.1% from 106,857 MT. Gross export receipts more than doubled at USD360.139 million from USD167.760 million, mainly propelled by almost triple leap in coconut oil revenue.
Coconut oil lead the gainers with shipment during the month at 113,697 MT increasing to more than twice last year at 51,926 MT (+119.0%). By-product copra meal, however, barely rose at 30,275 MT from 30,008 MT (+0.9%). Desiccated coconut export at 13,147 MT hiked 10.2% from 11,933 MT while oleochemicals showed an accelerated growth of 46.9% at 8,791 MT as copra from 5,986 MT.
Other products performed as follows, in MT: coco shell charcoal 6,738 (-28.7% from 9,457 last year), activated carbon 7,051 (+20.2% from 5,865), virgin coconut oil 3,965 (+99.2% from 1,990), coco water 15,020 (+3,718.0% from 393), fresh coconuts 21 (-57.1% from 48), Others 25,275 (-15.8% from 30,028).
January-May export accumulated to 1,035,196 MT in copra terms, soaring 71.7% from 602,775 MT at the same time last year. Aggregate turnover was USD1.621 billion, vastly boosting prior year at USD0.878 billion by 84.6%.
Volume breakdown is as follows, MT: coconut oil 555,865 (288,631 last year), copra meal 164,012 (110,285), desiccated coconut 72,470 (58,693), oleochemicals as copra 40,827 (53,887); Coco shell charcoal 45,484 (40,320), activated carbon 34,779 (30,627), virgin coconut oil 12,918 (14,197), coco water 52,176 (10,372), fresh coconut 100 (130), Others 109,825 (144,378).
Philippine Export of Coconut Products Up Sharply in May
Thursday, June 30, 2022Philippine export of coconut products, according to UCAP estimates, shot up by 76.0% in May to 188,067 MT in copra terms from 106,858 MT in a similar month a year ago but was 15.5% behind previous month unofficial total at 222,434 MT.
All products posted double-digit year-on-year increments led by coconut oil. However, against the prior four-month (January-April) average figures, coconut oil and desiccated coconut fell behind while copra and oleochemical were above average.
Export of coconut oil at 98,221 MT nearly doubled last year low base at 51,926 MT (+89.2%), largely boosting overall total during the month. However, volume this month was below the prior four-month average at 109,519 MT by 10.3%. Bulk of this month shipment was delivered to Europe at 60,050 MT or nearly two-thirds of the pack (61.1%). Malaysia was second biggest market during the month with uptake at 14,500 MT (14.8%), trailed by the United States at 12,600 MT (12.8%), China 7,000 MT (7.1%), Japan 2,071 MT (2.1%) and Indonesia 2,000 MT (2.0%).
Copra meal overseas trade likewise soared and recorded a 50.1% spike at 45,050 MT from 30,008 MT. This is 32.0% above the monthly average at 34,107 MT. South Korea was top importer cornering 20,250 MT or 45.0%, tracked by India at 11,600 MT (25.7%), China and Vietnam at 6,600 MT apiece (14.7%).
Desiccated coconut export at 14,383 MT hiked 20.5% from 11,933 MT and oleochemicals at 9,923 MT as copra jumped 65.8% from 5,986 MT. Desiccated coconut figure was 3.0% short of the average at 14,828 MT contrasting with oleochemicals which was 19% above average at 8,373 MT.
Export in January-May accumulated to 1,009,044 MT in copra terms, rocketing 67.4% from 602,776 MT at the same time last year. All products, save for oleochemicals, fared much better than the preceding year as shown in the following breakdown, MT: coconut oil 536,565 (288,631 last year), copra meal 181,479 (110.285), desiccated coconut 73,695 (58,693), oleochemicals as copra 43,416 (53,887).
.png)
