Philippine Export of Coconut Products Up in July

UCAP preliminary data show export of coconut products in July totaled 106,812 MT in copra terms, besting same month last year at 98,520 MT by 8.4%.  The total, however, pruned by 31% last month shipment estimated at 154,703 MT.  The increment came exclusively from coconut oil which, along with copra meal, recorded improved export.  

Coconut oil export was 53,019 MT, based on UCAP estimates.  This topped last year data at 46,826 MT by 13.2%.  This month volume was the second lowest during the year following after February’s 44,265 MT and fell below the 6-month (January-June) average at 95,782 MT by 44.6%.  Europe remained a primary market with uptake at 25,317 MT accounting for 47.8% of total trade.  Similarly, the US continued as second major buyer with orders amounting to 21,500 MT representing 40.6% of the pack.  Other importers were Malaysia with 3,600 MT and Japan with 2,602 MT, for respective market shares of 6.8% and 4.9%.  

Copra meal shipment at 17,000 MT leaped 48.7% from last year at 11,433 MT.  However, it fell short by 24.4% from the 6-month average at 22,474 MT.  The load was shared by India and Vietnam with the former taking bulk of total at 13,700 MT or 80.6% and India 3,300 MT or 19.4%. 

Delivery of desiccated coconut at 12,960 MT was 6.6% below prior year at 13,871 MT.  However, among export products, only desiccated coconut surpassed the 6-month average at 9,407 MT by 37.8%.  On the other hand, export of oleochemicals at 2,618 MT mildly scaled lower from last year at 2,747 MT by 4.7% and reduced by 20.0% average tonnage at 3,372 MT. 

Export for the 7-month period to July aggregated 1,131,922 MT in copra terms.  This outstripped by 27.2% a similar period year-ago total at 889,576 MT.  Breakdown is as follows, in MT: coconut oil 627,712 (484,100 last year), copra meal 165,302 (220,086), desiccated coconut 72,398 (60,170), oleochemicals as copra 23,621 (28,136).