Philippine Export of Coconut Products Up in February

Philippine export of coconut products in February based on UCAP estimates leaped 27.6% to 154,976 MT in copra terms from 121,433 MT is a similar month a year ago.  The total likewise more than doubled last month shipment estimated at 74,686 MT (+107.5%).  

Export of coconut oil jumped 42.5% year-on-year to 85,152 MT from 59,756 MT.  The figure included 29,500 MT unshipped volume scheduled last month due to late arrival of vessel. As reported in January, the unshipped volume which was loaded in early February, as expected, became part of this month report.  

Europe remained a leading destination of coconut oil during the month with lifting at 34,100 MT comprising 40.0% of total.  Indonesia was next with 22,997 MT representing 27.0% of the pack, trailed by the United States with 21,500 MT (25.2%), Japan 3,555 MT (4.2%) and Malaysia 3,000 MT (3.5%).   

Copra meal export also shot up 70.2% to 24,820 MT from 14,583 MT. Korea was primary market at 13,400 MT which accounted for more than half of total (54.0%), tracked by India at 4,400 MT (17.7%), Vietnam 3,520 MT (14.2%) and China 3,500 MT (14.1%).   

Desiccated coconut shipment at 10,537 MT contracted 25.8% from 14,202 MT, as did oleochemicals with delivery at 3,523 MT as copra posting a 23.8% shortfall from 4,625 MT. 

Total export in January-February at 229,665 MT in copra terms slumped 30.2% from 329,215 MT.  Breakdown is as follows, in MT: coconut oil 118,486 (175,102), copra meal 41,520 (35,936), desiccated coconut 22,605 (26,018), oleochemicals as copra 6,643 (11,050).