Philippine Export of Coco Products Up in April

UCAP preliminary estimates show Philippine export of coconut products in April totaled 140,648 MT in copra terms, surpassing by 30.5% April year-ago data at 107,804 MT and posting a fractional rise by 0.8% from prior month shipment estimated at 139,517 MT.  This is the first year-on-year growth recorded this year.  Moreover, the figure also exceeded by 14.1% the first quarter monthly average at 123,254 MT.  All products registered year-on-year increments, save for by-product copra meal. 

Coconut oil export at 71,140 MT leaped 32.7% from 53,629 MT and bested the monthly average in the prior quarter at 60,282 MT by 18.0%.  Europe and the United States combined increased their coconut oil market share this month to over 90% from the usual 80%. Of total lifting, Europe cornered 60.6% or 43,100 MT while the United States was responsible for 33.3% or 23,690 MT.  Japan took in the remaining 6.1% or 4,350 MT.    

Copra meal shipment by contrast plunged 58.4% to 10,900 MT from 26,231 MT, and was likewise 57.0% below monthly average at 25,324 MT.  India remained a primary market with uptake at 6,000 MT accounting for 55.0% of total sales.  China contributed 3,300 MT and Japan 1,600 MT for respective market participation of 30.3% and 14.7%. 

Foreign trade of desiccated coconut was 10,435 MT, an appreciable improvement by 25.2% from 8,336 MT but was 4.4% short of average at 10,914 MT.  Overseas purchases of oleochemicals at 11,594 MT as copra similarly increased significantly by 18.4% from 9,791 MT and topped the average at 10,694 MT by 8.4 %. 
 
January-April shipment run up to 510,410 MT in copra terms based on UCAP estimates, recording 15.7% deficit from 605,773 MT at the same time last year.  Breakdown is as follows, in MT: coconut oil 251,986 (320,494), copra meal 86,873 (86,682), desiccated coconut 43,178 (47,651), oleochemicals as copra 43,676 (23,380).