Preliminary UCAP figures show export in November 2005 posted an increase by a moderate 8.2% to 205,083 MT measured in copra terms from 189,579 MT in the same month a year earlier. The increment was exclusively on account of coconut oil which was a growth performer during the month along with copra meal. The month’s shipment turned in an estimated USD70.606 million, a reduction by 5.6% from corresponding period last year figure at USD74.784 million dragged by lower prices. Income figures exclude data from oleochemicals.

       Coconut oil hiked lifting during the month by 18.6% from 98,783 MT to 117,172 MT along with copra meal which leaped more sharply by 33.9% from 31,943 MT to 42,784 MT. On the other hand, desiccated coconut and oleochemicals reflected cuts in volume traded with desiccated coconut pruned down by a whopping 38.5% from 12,162 MT to 7,478 MT and oleochemicals massively squeezed by 46.1% from 13,977 MT in copra terms to 7,534 MT.

       Export of coconut oil in November went almost exclusively to Europe. Total volume at 97,091 MT accounted for 82.9% of aggregate shipment. The United States handled only 10,500 MT representing 9.0% of total sales while Korea, Japan and Malaysia took in limited amounts respectively at 4,200 MT, 3,375 MT and 2,000 MT for a combined market share of 8.1%.

       United Coconut Planters Bank-Coconut Industry Investment Fund (UCPB-CIIF) Foundation is replenishing coconut seedlings in typhoon-ravaged farms in Quezon from its own 70,000 seednut nursery. “Farmers’ livelihood was disrupted when typhoon-induced flashfloods swept their farms, uprooting fruit-bearing coconut trees and destroying livestock. We hope these seedlings will give them a fresh start”, said UCPB-CIIF Foundation president, Edgardo C. Amistad in a statement.

       Senator Edgardo Angara has joined the growing clamor for immediate passage of bill requiring compulsory use of coconut methyl ester (CME) or coco-biodiesel in the transport sector. In filing Senate Bill 2184, the Senator said the passage of the measure mandating the pre-blending of CME in all diesel used as motor fuel at one percent per volume (B1) is consistent with the Philippines’ move toward energy independence.

       The Philippine-China Early Harvest Program (EHP) signed last year took effect on January 01, 2006. Among other things, the EHP calls for the elimination of tariffs on agricultural products entering China. “This agreement should be favorable to Philippine agriculture export winners such as coconut oil, including virgin coconut oil, fresh tropical fruits such as mangoes, bananas and pineapples, carrageenan and fishery products,” said Agriculture Secretary Domingo Panganiban. Said products would be entering China at zero tariff.

       Figures from Sri Lanka’s Coconut Development Authority reveal the country’s export of desiccated coconut in September last year dropped 5.0% to 5,153 MT from 5,423 MT in a similar month a year earlier. The product was traded during the month at an average price of USD945/MT FOB, slightly lower than year-ago at USD958/MT. January-September export at 23,396 MT, however, massively shrank by 48.5% from 45,464 MT in a comparable year-ago period.

       In a bid to avoid unchecked imports which could hurt the domestic market with the elimination of import quotas on soybean oil, palm oil and rapeseed oil this year as part of its commitment to WTO, China has limited trading of the three oils effective this year only to large firms. Only trading firms with registered capital of more than yuan 10 million ($1.24 million) and annual sales revenue of yuan 200 million will be allowed to import vegetable oils.

       Mr. Raul U. Ostrea, CIIF Oil Mills Group Vice-President and Chief Trading Officer announced this week his early retirement from the company with effect December 31, 2005. Mr. Ostrea had a fruitful 16 years with the CIIF Group where he started off as Management Trainee and the rest is history. Before his retirement, he was also Director of the Philippine Coconut Oil Producers Association where he served as chairman of the International Affairs Committee. In UCAP, he also served as chairman of the International Affairs Committee for a term of two years until May 2005. On behalf of UCAP, we thank Raul for sharing his executive time in UCAP and wish him all the best and more successes.