Philippine Export of Coconut Products Up Sharply in November 2024

Data from the Philippine Statistics Authority show the Philippines exported in November 226,655 MT of coconut products expressed in copra terms.  This leaped by 75.8% from 128,946 MT in the same month a year earlier.  Gross export receipts at USD277.799 million nearly doubled the previous year at USD140.686 million (+97.5%), mainly driven by coconut oil which nearly tripled income.

Coconut oil was the only gainer among the major exports in terms of volume traded, boosting export aggregate for the month.  Shipment at 127,835 MT was nearly twice the previous year at 64,677 MT (+97.7%).  However, this is comparatively lower than the monthly average of the previous 10 months (January-October) of 133,414 MT.  On the other hand, export of by-product copra meal at 26,111 MT fell 18.1% year-on-year from 31,880 MT.  Desiccated coconut slightly reduced shipment by 4.7% to 12,577 MT from 13,204 MT while oleochemicals recorded substantial shortfall of 26.8% at 4,297 MT as copra from 5,871 MT.

Other products’ performance for the month follows, in MT: coco shell charcoal 11,718 (+18.9% from 9,858 year-ago), activated carbon 4,385 (-7.5% from 4,741), virgin coconut oil 264 (-88.2% from 2,245), coco water 13,225 (+42.8% from 9,262), fresh coconuts 29 (+800.1% from 3), Others 15,756 (+8.5% from 14,516).

Total exports for the 11-month period to November reached 2,622,147 MT in copra terms, a substantial rise by 41.2% from 1,857,024 MT at the same time a year earlier.  Revenue likewise increased by almost the same rate (+48.1%) to USD2.629 billion from USD1.775 billion.  Except for oleochemicals, the major exports bested respective previous year data at double-digit rates.

Breakdown of exports, in MT: coconut oil 1,461,970 (991,444 year-ago), copra meal 327,473 (268,465), desiccated coconut 158,680 (143,398), oleochemicals as copra 56,228 (61,599); Coco shell charcoal 125,920 (107,816), activated carbon 53,769 (54,826), virgin coconut oil 4,888 (26,818), coco water 111,853 (68,822), fresh coconuts 137 (182), others 196,627 (181,984).