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Philippine Export of Coconut Products Up Sharply in June
Thursday, October 24, 2024
Data from the Philippine Statistics Authority show the Philippines exported 219,857 MT of coconut products expressed in copra terms, a jump by 67.0% from 131,639 MT in the same month a year ago. Gross export receipts likewise leaped 48.7% to USD223.658 million from USD150.457 million, mainly propelled by huge coconut oil turnover.
Coconut oil exclusively accounted for the rise in aggregate export with volume at 123,952 MT nearly twice as last year at 64,786 MT (+91.3%). The last time volume reached such level was in April 2022 at 123,836 MT. Other major exports recorded double-digit year-on-on year losses. Copra meal at 12,193 MT contracted 66.5% from 36,386 MT, desiccated coconut at 11,712 MT fell 20.6% from 14,746 MT, oleochemicals at 5,000 MT as copra declined 16.8% from 6,006 MT.
Performance of other coconut products is as follows, MT: coco shell charcoal 13,847 (+69.5% from 8,167 last year), activated carbon 4,408 (-22.8% from 5,710), virgin coconut oil 696 (-76.3% from 2,932), coco water 11,737 (-9.9% from 13,025), fresh coconuts 5 (+74.4% from 3), Others 18,009 (+20.4% from 14,959).
The cumulative export figure for the first half of 2024 reached 1,391,163 MT in copra terms, boosting last year’s 1,000,319 MT by a whopping 39.1%. Corresponding revenue likewise substantially increased by 29.0% to USD1.251 billion from USD969.368 million. All major exports, except oleochemicals, topped respective last year tonnage.
Breakdown of shipment is as follows, MT: coconut oil 774,612 (534,760 last year), copra meal 166,590 (128,176), desiccated coconut 81,727 (74,639), oleochemicals 35,264 as copra (36,097); Coco shell charcoal 62,278 (58,427), activated carbon 24,958 (32,711), virgin coconut oil 3,937 (14,085), coco water 34,615 (39,681), fresh coconuts 83 (144), Others 109,224 (94,156).
Philippine Export of Coconut Products Up Sharply in June
Thursday, August 1, 2024Philippine export of coconut products in June leaped 67.2% to 220,157 MT in copra terms
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