Official data from the Philippine Coconut Authority reveal the Philippines exported 136,582 MT of coconut products measured in copra terms in October 2008. This is a massive drop by 38.0% from 220,470 MT in a similar month a year earlier. Gross export receipts, however, fell only modestly by 7.6% to USD128.052 million from USD138.640 million on sharply improved border prices.

       Only desiccated coconut showed increased shipment by a hefty 27.0% at 12,976 MT from 10,217 MT among the major exports which mostly recorded considerable deficit during the month. Coconut oil export plummeted 43.2% to 70,655 MT from 124,490 MT, copra meal plunged 54.3% to 22,568 MT from 49,428 MT, oleochemicals slumped 38.2% to 4,370 MT as copra from 7,071 MT. Other products performed as follows, in MT: coco shell charcoal 4,366 (+118.0% from 2,003), activated carbon 1,439 (-52.8% from 3,049), glycerin 1,430 (+0.5% from 1,422), fresh coconuts 109 (+82.9% from 59), Others 2,193 (+11.2% from 1,973).

       Export of coconut oil in October consisted of 50,205 MT crude coconut oil, 19,503 MT cochin oil (refined, bleached oil), and 946 MT RBD oil. Europe remained the top market during the month with purchases of 31,500 MT of crude coconut oil only, mainly for the Netherlands, to account for 44.6% of total coconut oil shipment. The United States cornered 32.5% or 22,986 MT made up of 12,963 MT crude coconut oil, 10,003 MT cochin oil and 19 MT RBD oil. The US was second biggest importer of crude coconut oil and the leading buyer of cochin oil during the month.

       The export market for copra meal expanded in October outside of the usual Korea, Vietnam and New Zealand. However, Korea and Vietnam remained the top two destinations with the former cornering 9,062 MT or 40.2% of the market and the latter capturing 5,224 MT or 23.1%.

       Desiccated coconut export in October went to 40 countries of which 19 took in volume no lower than 100 MT and jointly accounted for 94.8% of the market. The United States remained the market leader with purchases of 2,765 MT representing 21.3%, followed by United Kingdom with 1,539 MT (11.9%), Belgium 1,333 MT (10.3%) and Netherlands 1,134 MT (89.7%). Five countries with combined market share of 29.2% also took in substantial volume (500-1,000 MT range): Canada 979 MT, Australia 963 MT, France 673 MT, Turkey 602 MT, and Germany 582 MT.

       There were five destinations for coco shell charcoal exports in October. Japan?s purchases of 3,990 MT (91.4%) made it almost an exclusive market of the month. Other destinations were Korea 307 MT, Singapore 29 MT, China 22 MT, and Taiwan 19 MT.

       Solomon Islands?s Commodities Export Marketing Authority (CEMA) has resolved to discontinue the export of copra by December 31, 2010 in order to develop its own copra crushing industry. CEMA has advised the copra exporters in the country to review their activities ahead of the move. The planned move is in line with the govern-ment?s policy to create more employment and value adding and get better returns from commodities exported.

       CEMA will be encouraging the private sector to crush as much of the copra as possible and export or produce other coconut-based products that can be derived from coconut oil and copra cake. The authority will commission a feasibility study into coconut oil marketing and copra crushing this year in order to assist those wishing to venture into the industry.

       The China National Grain and Oils Information Centre (CNGOIC) predicted that the country would import 38 million MT of soybeans in 2008/09, only slightly higher from 37.81 million MT in 2007/08, which was a 32% increase from the previous season. ?The government will release some of the state soya reserves in the year, which will mean import growth is not as big as last year?, the think tank said, adding that some special cases contributed to the high growth of imports last year.

       According to the Associated Chambers of Commerce and Industry (Assocham), India?s deficit in edible oils will widen by 73.5% by 2020 to more than 8.10 million tons from the current 4.71 million tons. The situation may aggravate further if the country fails to maintain the growth in domestic vegetable oil production which won?t be an easy task especially when there is increasing competition among the different crops for cultivable land and irrigation facilities are not improving as desired, according to an Assocham report.

       Scientia Advisors, an international management consulting firm, forecasts a continuing robust growth in the functional foods marketplace worldwide. The study was based on extensive interviews with scientists, clinicians, manufacturers and product developers, as well as on traditional market research. Scientia predicts an annual compound growth rate of seven percent through 2012, averaged across all segments of the industry. The rapid rise will bring global sales of functional foods to $195 billion, a 52% gain over 2006 of $128 billion.