Philippine Export of Coconut Products Up Sharply in February

Export of coconut products in February shot up 56.3% to 104,953 MT in copra terms, according to UCAP estimates, from 67,167 MT in a similar month a year earlier.  The figure, however, showed a 29.1% shortfall from the unofficial total in January at 147,926 MT and was 28.5% behind the monthly average in 2018 at 146,743 MT.  Except for copra meal, all export products reflected year-on-year increments.
Coconut oil export spiked 61.4% at 57,678 MT from 35,744 MT of the preceding year but was 27.2% below the monthly average last year at 79,279 MT.  Almost three-fourths (73.9%) of total shipment at 42,638 MT went to the European market.  The US took in nearly one-fourth (21.0%) at 12,140 MT and Japan was responsible for 5.0% at 2,900 MT. 
Overseas delivery of copra meal was slightly trimmed by 5.7% to 26,730 MT from 28,348 MT.  The figure lagged behind the monthly average last year at 33,397 MT by 20%.  Top destination was India which accounted for over one-half (51.6%) of total at 13,800 MT.  South Korea held nearly one-fourth (23.6%) at 6,300 MT while China and Japan absorbed 3,630 MT (13.6%) and 3,000 MT (11.2%), respectively. 
Outbound load of desiccated coconut climbed 9.7% to 6,855 MT from 6,251 MT but was 35.7% off last year monthly average at 10,657 MT.  Oleochemicals rocketed 265.8% at 2,802 MT as copra from 766 MT but fared below last year average at 4,420 MT by 36.6%.  There was no export of copra on record during the month, as of this report, as last year.  
Total export in January-February, however, dropped 32% to 252,879MT in copra terms from 372,013 MT at the same time last year.  Breakdown is as follows, in MT: coconut oil 142,876 (214,483 last year), copra meal 45,330 (29,457), desiccated coconut 13,770 (14,782), oleochemicals 4,802 as copra (8,709).