Philippine Export of Coconut Products Down in March

Official figures from the Philippine Statistics Authority show export of coconut products in March by the Philippines totaled 145,823 MT in copra terms to record a shortfall of 13.6% from same month last yea at 168,752 MT.  Gross export receipts, however, leaped 43.4% to USD208.021 million from USD145.029 million propelled by high prices.

Coconut oil export contracted 21.4% year-on-year to 72,143 MT from 91,763 MT as did by-product copra meal which fell 13.1% to 21,309 MT from 24,515 MT.  Desiccated coconut shipment, however, was barely touched at 13,266 MT when compared to 13,296 MT (-0.2%) last year.  Oleochemicals was the only growth sector, skyrocketing 325.3%  at 10,800 MT as copra from 2,539 MT.

Other products performed as follows, in MT: coco shell charcoal 10,382 (+5.0% from 9,887 last year), activated carbon 7,193 (+2.9% from 6,991), virgin coconut oil 3,270 (+90.0% from 1,721), coconut water 4.107 million liters (-4.8% from 4.313 million), fresh coconuts 2 (-87.1% from 19), Others 32,029 (+26.4% from 25,339).

January-March export accumulated to 376,068 MT in copra terms, reducing by 24.4% same time last year total at 497,267 MT.  Breakdown is as follows, in MT: coconut oil 178,149 (266,865 last year), copra meal 66,881 (60,452), desiccated coconut 35,766 (39,314), oleochemicals as copra 37,995 (12,889); Coco shell charcoal 21,885 (23,521), activated carbon 18,980 (21,138), virgin coconut oil 10,060 (5,237), coco water 6.643 million liters (5.252 million), fresh coconuts 78 (56), others 84,373 (74,567).

Philippine Export of Coconut Products Down in March

Philippine export of coconut products in March, based on UCAP estimates, reached 139,517 MT in copra terms, reducing by 17.3% March last year total at 168,751 MT.  The figure likewise trimmed last month unofficial total at 154,976 MT by 10.0%.  

Decline in aggregate data was largely on account of coconut oil which cut shipment by 18.4% year-on-year at 74,839 MT from 91,763 MT.  This month coconut oil export, however, exceeded by 8.9% a prior two-month average volume at 68,727 MT.   

Traditional markets Europe and the United States continued to account for 80% of coconut oil market, with the former responsible for more than half (52.1%) of this month’s shipment or 39,020 MT.  The United States cornered 28.0% or 20,950 MT.  Purchases by Malaysia at 12,600 MT and Japan at 2,269 MT respectively contributed 16.8% and 3.0%.  

Copra meal export at 30,400 MT surpassed last year at 24,515 MT, a hefty 24.0% growth.  The total likewise outdid the monthly average at 22,335 MT by an appreciable 36.1%.  India was this month’s leading destination capturing 14,300 MT (47.0%), closely trailed by South Korea at 12,600 MT (41.4%), and China at 3,500 MT (11.5%).  

External trade of desiccated coconut at 10,244 MT dropped 23.0% from last year at 13,296 MT and was 2.7% below monthly average at 10,530 MT.  On the other hand, oleochemicals export at 4,887 MT as copra nearly doubled last year at 2,539 MT (+92.5%) but was 45.2% below average at 8,914 MT. 

Export for the first quarter of 2021 accumulated to 408,085 MT in copra terms based on UCAP estimates.  This showed a shortfall of 18.0% from 497,967 MT in a similar year-ago period.  Breakdown in as follows, in MT: coconut oil 212,293 (266,865), copra meal 75,069 (60,452), desiccated coconut 31,304 (39,314), oleochemicals as copra 22,714 (13,589).