Philippine Export of Coconut Products Up in January

Philippine export of coconut products in January based on UCAP estimates totaled 224,431 MT in copra terms, a slight rise by 1.7% from 220,757 MT in the same month a year earlier. The figure is 25.5% higher than the prior month estimated shipment at 178,787 MT.
Just like last December, all the major exports in January except coconut oil substantially exceeded the respective prior year’s totals.  
Coconut oil shipment dropped mildly by 2.7% to 123,380 MT from 126,812 MT.  The traditional markets Europe and USA together comprised 76.9% of the market and the balance 23.1% went to Malaysia, Japan and South Korea.  Lifting to Europe was 55,605 MT (45.1%) and to the US it was 39,225 MT (31.8%).  Malaysia handled the third biggest shipment at 21,800 MT (17.7%) while smaller loads went to Japan at 3,750 MT (3.0%) and South Korea 3,000 MT (2.4%).
Export of copra meal, on the other hand, leaped 48.0% to 30,000 MT from 20,264 MT. There were only two country importers during the month, South Korea and India.  The former held the bigger share at 19,750 MT (65.8%) while India received 10,250 MT (34.2%). 
International trade of desiccated coconut likewise posted double-digit increment of 36.4% at 14,934 MT from 10,946 MT, while that of oleochemicals more than doubled (+116.1%) at 5,501 MT as copra from 2,545 MT.