Philippine Export of Coconut Products Up in December 2023

Data from the Philippine Statistics Authority show Philippine coconut products export in December hiked 12.4% year-on-year to 181,871 MT in copra terms from 161,868 MT.  Gross export receipts likewise increased to USD169.182 million from USD163.713 million, a rise by 3.3%.
The increase in export was largely on account of coconut oil which lifted shipment by 13.6% to 98,974 MT from 87,132 MT.  The volume was 8.9% above the monthly average for the year at 90,868 MT.  Export of by-product copra meal shot up 56.3% to 15,824 MT from 10,124 MT though the month’s tonnage was 33.2% below the average at 23,691 MT.
Shipment of desiccated coconut at 12,875 MT marginally declined by 1.4% from 13,059 MT and likewise was 1.1% shy of the average at 13,023 MT.  Overseas purchases of oleochemicals sharply leaped by 44.2% to 4,864 MT as copra from 3,374 MT but was 12.1% behind the average at 5,539 MT.  
Other products’ performance during the month is shown following, MT: coco shell charcoal 10,218 (+23.6% from 8,268 last year); activated carbon 5,362 (-13.7% from 6,215); virgin coconut oil 2,520 (+44.2% from 1,747); coco water 6,824 (nil); fresh coconuts 2 (-95.7% from 54); Others 17,659 (-6.8% from 18,940).
Total export for the calendar year 2023 reached 2,038,802 MT in copra terms, posting a shortfall of 9.9% from 2,262,067 MT at the same time last year.  Aggregate revenue was USD1.944 billion, a steep fall by 39.2% compared to USD3.197 billion a year ago. 
All exports but virgin coconut oil and coco shell charcoal recorded year-on-year decline in volume. Desiccated coconut, however, depicted only a flat change.  Breakdown is as follows, MT: coconut oil 1,090,418 (1,219,800), copra meal 284,289 (312,763), desiccated coconut 156,273 (156,931), oleochemicals as copra 66,370 (83,249); Coco shell charcoal 118,034 (113,688), activated carbon 60,188 (80,687), virgin coconut oil 29,337 (26,296), coco water 75,645 (124,449), fresh coconuts 184 (295), Others 194,702 (246,072).