News
Philippine Export of Coconut Products Up in June
Thursday, September 29, 2022
Data from the Philippine Statistics Authority revealed the Philippines exported in June a total of 172,981 MT of coconut products expressed in copra terms, increasing by 24.0% from June year-earlier at 139,536 MT. Gross export receipts likewise materially rose by 32.8% at USD282.636 million from USD212.883 million
Increment in this month aggregate data was exclusively on account of coconut oil, which recorded the only growth among major exports. Shipment of coconut oil at 87,171 MT leaped 33.9% from 65,091 MT in June last year. By contrast, copra meal dropped 49.2% at 13,976 MT from 27,533 MT, desiccated coconut tripped 1.9% at 13,725 MT from 13,990 MT, oleochemicals fell 8.2% at 13,396 MT as copra from 14,588 MT.
Performance of other products are shown following, MT: coco shell charcoal 10,516 (+16.9% from 8,996 last year), activated carbon 6,498 (+15.2% from 5,642), virgin coconut oil 2,280 (-25.2% from 3,048), coco water 12,591 (+497.1% from 2,109), fresh coconuts 26 (-90.9% from 286), Others 21,194 (-35.4% from 32,817).
The cumulative export for the first half of 2022 tallied 1,208,178 MT in copra terms, a substantial increase by 62.8% from 742,311 MT at the same time last year. Generated revenue shot up 74.5% to almost USD2.000 billion at USD1.904 billion from USD1.091 billion a year ago, jointly propelled by high volume and prices. Of the total, coconut oil was responsible for 63.7% as turnover more than doubled (+135.9%) at USD1.213 billion from prior year at USD0.514 billion.
Breakdown of export by volume is shown following, MT: coconut oil 643,035 (353,722 last year), copra meal 177,988 (137,818), desiccated coconut 86,195 (72,683), oleochemicals as copra 54,223 (68,475); Coco shell charcoal 56,000 (49,316), activated carbon 41,277 (36,270), virgin coconut oil 15,198 (17,245), coco water 64,767 (12,480), fresh coconuts 126 (417), Others 131,020 (177,195).
Philippine Export of Coconut Products Up in June
Thursday, July 28, 2022
Export of coconut products in June, according to UCAP preliminary data, hiked 23.2% to 171,909 MT in copra terms from 139,537 MT in the same month last year, but posted a shortfall of 8.6% from prior month figure estimated at 188,067 MT. The total is the lowest registered during the first six months of this year.
All products in review showed mixed results when matched against the prior five months average (January-May) with coconut oil and copra meal at below average and desiccated coconut and oleochemicals above average.
Export of coconut oil was 85,750 MT, a leap by 31.7% from 65,091 MT in June last year but the lowest so far during the first half of this year. The figure was 20.7% behind the monthly average at 108,078 MT. Europe remained the leading destination with delivery of 34,600 MT representing 40.3% of total. The United States was responsible for 20,250 MT or 23.6%, trailed by Malaysia at 13,500 MT (15.7%), Indonesia 8,000 MT (9.3%), China 5,000 MT (5.8%), and Japan 4,400 MT (5.1%).
Copra meal shipment dropped more steeply by 45.0% at 15,150 MT from 27,533 MT year-ago to record the lowest level as well during the review period. Moreover, volume was 57.6% below average at 35,757 MT. China and South Korea were the only destinations reported this month with the former taking bulk of total at 8,000 MT (52.8%) and South Korea the remaining 7,150 MT (47.2%).
Desiccated coconut export at 16,357 MT surpassed last year data at 13,990 MT by 16.9% and exceeded the average at 14,741 MT by 11.0%. This contrasted with oleochemicals which trimmed export by 28.0% at 10,509 MT as copra from 14,588 MT in the preceding year, but bested the average at 8,392 MT by 25.2%.
The cumulative January-June export reached 1,185,582 MT in copra terms. This shot up by 59.7% from 742,312 MT in a similar period a year ago. All products but oleochemicals vastly outperformed respective prior year figures as shown in the following breakdown, MT: coconut oil 626,138 (353,722 last year), copra meal 193,397 (137,818), desiccated coconut 90,063 (72,683), oleochemicals as copra 52,468 (68,475).
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