Philippine Coconut Products Export Down in May

UCAP preliminary data show Philippine export of coconut products in May was 128,608 MT in copra terms, exceeding May last year total at 111,291 MT by 15.6% exclusively on account of the rise in coconut oil shipment.  However, current month total is lower by 15.2% compared to month-ago estimated at 151,748 MT but shade higher by just 191 MT than the monthly average (January-April average) at 128,417 MT. 
Coconut oil and copra meal registered increased shipment over last year, while desiccated coconut and oleochemicals posted declines.  The latter though surpassed respective monthly average data.  
Export of coconut oil at 68,968 MT spiked 20.7% from prior year at 57,160 MT.  The figure, however, is 3.9% short of the monthly average at 71,748 MT.  Europe remained a primary destination responsible for more than one half (52.2%) of total trade with 36,000 MT.  The US took delivery of 27,000 MT representing 39.1% and Japan took in 5,968 MT or 8.7%. 
Shipment of copra meal reached 29,926 MT, accelerating 37.3% from 21,800 MT in prior year but was 9.6% below the monthly average at 33,118 MT.  China was major importer of Philippine copra meal during the month cornering 13,616 MT, trailed by Korea with 12, 150 MT and Japan with 4,160 MT, for respective market shares of 45.5%, 40.6% and 13.9%.
Desiccated coconut export at 9,013 MT was little changed from last year at 9,029 MT (-0.2%) but was ahead of the monthly average at 7,062 MT by 27.6%.  Similarly, oleochemicals foreign trade at 5,200 MT as copra shrank 21.0% from 6,586 MT but bested the average at 3,614 MT by a hefty 43.9%.  
There was no reported export of copra during the month while at the same time last year, 16 MT was exported.  Meanwhile, official data for March showed 22 MT was shipped in that month but none year-earlier.   
 
January-May export tallied 642,298 MT in copra terms, squeezing by 13.4% a similar period year-earlier total at 741,562 MT. Breakdown is as follows, in MT: copra 22 (63 last year), coconut oil 355,960 (413,528), copra meal 162,399 (51,257), desiccated coconut 37,260 (36,999), oleochemicals as copra 19,654 (27,903).