Philippine Coconut Products Export Up in October

UCAP preliminary data show Philippine export of coconut products in October climbed 10.3% to 172,793 MT in copra terms from 156,646 MT in the same month last year, a turnaround from two straight months of year-on-year decline.  The figure likewise topped September unofficial data at 130,094 MT by a whopping 32.8%.  Coconut oil exclusively accounted for the rise in export during the month.  
Commodity totals this month exceeded respective nine-month (January-September) averages except for copra meal.
Shipment of coconut oil jumped 16.4% to 93,891 MT from 80,656 MT in previous year.  The figure was slightly higher (+1.0%) than the monthly average at 92,945 MT.  The US was this month leading destination taking in nearly half (47.3%) of the month lifting with delivery of 44,431 MT.  Europe was responsible for a third (33.2%) with 31,160 MT.  Malaysia and Japan respectively absorbed 16,100 MT (17.1%) and 2,200 MT (2.3%)
Copra meal suffered huge deficit, squeezing by 87.9% last year export at 51,973 MT to 6,300 MT.  This month tonnage likewise fell below average at 25,604 MT by 75.4%.  South Korea was the sole destination of this month’s shipment. 
Export of desiccated coconut at 12,720 MT scaled back last year total at 14,057 MT by 9.5% but bested the average at 11,907 MT by 6.8%. Similarly, overseas sales of oleochemicals at 4,094 MT as copra plummeted by 40.6% from 6,887 MT but surpassed the average at 3,567 MT by 14.8%.
Export in January-October, based on UCAP estimates, accumulated to 1,743,983 MT in copra terms, a spike by 27.5% from 1,367,993 MT at the same time last year.  Coconut oil and desiccated coconut remained growth sectors, depicting increments of 30.9% and 16.5%, respectively.  Breakdown is as follows, in MT: coconut oil 956,011 (730,239 last year), copra meal 251,918 (323,988), desiccated coconut 122,876 (105,440), oleochemicals as copra 36,530 (45,866)