Philippine Export of Coconut Products Down Sharply in May

Official figures from the Philippine Statistics Authority showed export of coconut products by the Philippines fell sharply in May to 146,504 MT in copra terms from 257,743 MT in the same month a year ago, a 43.2% reduction.  Gross export receipts, however, hiked 18.3% to USD281.829 million from USD238.198 million, driven by price spikes in coconut oil and desiccated coconut.
Reduced harvest has been reflected in tepid exports in the last three month to May, notably in the major products which depicted significant year-on-year declines. Coconut oil posted the steepest fall of 47.2% to 75,871 MT from 143,687 MT; by-product copra meal dropped 42.0% to 22,409 MT from 38,606 MT, desiccated coconut fell 10.0% to 13,070 MT from 14,518 MT, and oleochemicals declined 18.8% to 5,867 MT as copra from 7,222 MT.
Other products performed as follows, MT: coco shell charcoal 14,087 (+23,1% from 11,443 last year), activated carbon 5,532 (+27.3% from 4,346), coco water 17,485 (+84.2% from 9,491), virgin coconut oil nil (799 MT), fresh coconuts nil (54 MT), Others 16,292 (-32.6% from 24,176).
Exports in January-May totaled 1,012,558 MT in copra terms, recording at 13.2% shortfall from 1,167,124 MT at the same time last year.  Corresponding revenue amounted to USD1.579 billion, a leap by 54.5% from USD1.022 billion previously. Breakdown of shipment is as follows, MT: coconut oil 565,978 (650,660), copra meal 128,965 (154,397), desiccated coconut 62,562 (70,015), oleochemicals as copra 17,456 (26,081).  
Other products performed as follows, MT: coco shell charcoal 62,222 (48,431), activated carbon 25,069 (20,550), virgin coconut oil 13 (3,242), coco water 67,778 (22,878), fresh coconuts 72 (78), Others 92,161 (91,216).