Philippine Export of Coconut Products Down in June

Data from the Philippine Statistics Authority showed the country’s coconut products exports dropped 23.9% in June to 131,639 MT in copra terms from 172,981 MT.  Gross export receipts likewise declined materially by 46.8% to USD150.457 million from USD282.636 million.

Decline in aggregate export during the month was largely on account of coconut oil which posted a shortfall of 25.7% year-on-year to 64,786 MT from 87,171 MT.  On the other hand, shipment of by-product copra meal rocketed 160.3% to 36,386 MT from 13,976 MT.  Desiccated coconut was the other growth performer among the major exports which hiked overseas trade by 7.4% to 14,746 MT from 13,725 MT.  Oleochemicals suffered the sharpest cut by 55.2% at 6,006 MT as copra from 13,396 MT.

Other products performed as follows, in MT: coco shell charcoal 8,167 (-22.3% from 10,516 last year), activated carbon 5,710 (-12.1% from 6,498), virgin coconut oil 2,932 (+28.6% from 2,280), coco water 13,025 (+3.4% from 12,591), fresh coconuts 3 (-88.6% from 26), Others 14,959 (-29.4% from 21,194).

Exports for the first half of 2023 accumulated to 1,000,319 MT in copra terms, a deficit by 17.2% from 1,208,178 MT at the same time last year. Breakdown is as follows, MT: coconut oil 534,760 (643,035 last year), copra meal 128,176 (177,988), desiccated coconut 74,639 (88,195), oleochemicals as copra 36,097 (54,223); Coco shell charcoal 58,427 (56,000), activated carbon 32,711 (41,277), virgin coconut oil 14,085 (15,198), coco water 39,681 (64,767), fresh coconut 144 (126), Others 94,156 (131,020).