Philippine Export of Coconut Products Up in July

Figures from the Philippine Statistics Authority show Philippine export of coconut products in July increased sharply by 33.1% to 203,969 MT in copra terms from 153,228 MT in the same month year-earlier. Gross export receipts likewise shot up 35.6% to USD302.033 million from USD222.672 million driven largely by sharp increase in coconut oil turnover.

Export of coconut oil leaped 43.6% year-on-year to 112,646 MT from 78,441 MT valued at USD197.884 million (+62.6% from last year), while by-product copra meal leaped 117.0% to 48,613 MT from 22,397 MT worth USD10.286 million (+107.4%).  Shipment of desiccated coconut, however, dropped 21.4% to 10,737 MT from 13,669 MT with earning at USD26.665 million (-20.5%) while oleochemicals boosted export by 12.9% at 8,565 MT as copra from 7,584 MT and turned in USD11.786 million (+46.2%).

Performance of other products is as follows, MT: coco shell charcoal 9,986 (+5.8% from 9,436 last year), activated carbon 7,430 (+5.1% from 7,071), virgin coconut oil 2,103 (-18.6% from 2,585), coco water 11,310 (+17,223.4% from 65), fresh coconuts 9 (-94.4% from 162), Others 19,968 (-39.0% from 32,756).
January-July export accumulated to 1,412,146 MT in copra terms, a jump by 57.7% from 895,539 MT at the same time last year. All major exports showed double-digit growth over prior year excepting oleochemicals. Revenue topped the USD2.000 billion mark at USD2.206 billion, a sharp rise by 73.0% from USD1.275 billion in a similar period last year.

Breakdown of export volume follows, MT: coconut oil 755,681 (432,163 last year), copra meal 226,601 (160,215), desiccated coconut 96,932 (86,352), oleochemicals as copra 62,787 (76,058); Coco shell charcoal 65,985 (58,753), activated carbon 48,707 (43,341), virgin coconut oil 17,301 (19,829), coco water 76,077 (77,766), fresh coconuts 135 (579), others 150,988 (209,950).