Philippine Export of Coconut Products Down in September

Philippine export of coconut products fell again in September by 22.6% year-on-year to 111,110 MT in copra terms, according to UCAP estimates, from 143,325 MT in the same month last year.  The figure likewise was below month-ago unofficial total at 135,508 MT by 18.0%.  
Except for oleochemicals, export products under review showed negative year-on-year change.  Export of coconut oil suffered 27.0% setback at 54,860 MT from 75,126 MT year-ago. The figure is 22.7% short of the previous eight months average (January-August) at 71,008 MT. 
 
Europe remained top destination of coconut oil accounting for more than half (60.2%) of total shipment or 33,000 MT. Malaysia came in second with uptake at 12,000 MT (21.9%), trailed by the US with 4,000 MT (7.3%), Indonesia 3,000 MT (5.5%), and Japan 2,860 MT (5.2%).   
Outbound load of by-product copra meal likewise declined with scaled back copra crushing activity.  Total was 16,200 MT, cutting last year data at 21,396 MT by 24.3%.  This is 5.6% shy of the average at 17,164 MT.  Vietnam and India were the only buyers with the former responsible for 9,600 MT (59.3%) and India taking in the remainder at 6,600 MT (40.7%).   
Overseas purchases of desiccated coconut were trimmed 7.8% at 12,745 MT from 13,830 MT but surpassed by 5.6% the average at 12,074 MT. On the other hand, oleochemicals defied the declining trend observed in other commodities.  Export estimate at 4,326 MT as copra leaped 60.5% from 2,695 MT, though it failed to outpace the average at 7,998 MT (-45.9%).
January-September export accumulated to 1,226,857 MT in copra terms. This represents a 22.6% shortfall from a similar period last year total at 1,584,421 MT.  Oleochemical was still the only growth sector, soaring 125.4% over last year figure.  Breakdown of shipment is as follows, in MT: coconut oil 622,927 (871,346 last year), copra meal 152,615 (233,163), desiccated coconut 109,356 (110,417), oleochemicals as copra 69,012 (30,619).