Figures from the Philippine Coconut Authority show Philippine export of virgin coconut oil during the 11-month period to November 2005 sharply exceeded annual volume in 2004 which amounted to 177 MT worth USD553.5 thousand. Total volume during the 11-month period at 445 MT dwarfed annual total a year earlier by 151.4%. Value of export at USD1.575 thousand correspondingly soared by a whopping 184.5%.

       Primary export destination of virgin coconut oil was the United States which captured 93.9% of the market with 418 MT. However, this share has slightly dwindled when compared with the previous year at 96.0% as more markets were opened notably in Europe and Asia. The combined uptake in Europe was 12 MT and distributed to Ireland (6 MT), Germany, Sweden and United Kingdom with each taking in around 2 MT apiece. Last year, Netherlands was the sole importer in Europe with 1 MT.

       Come March 24-26, 2006, Philippine Virgin Coconut Oil (VCO) will participate at this year’s Natural Products Expo West in Anaheim, California with VIVIENDO PHILIPPINES, INC. and PROSOURCE INT’L representing the industry in the Expo. They are part of the Philippine delegation composed of six companies, all makers of natural and organic products. The Philippine delegation’s participation is organized by the Center for International Trade Expositions and Missions (CITEM).

       VIVIENDO PHILIPPINES, INC. manufactures the Cold Processed-A No Heat (ANH) VCO and ANH-VCO based natural personal care products. VIVIENDO, the strongest advocate for ANH-VCO will represent the almost 40 producers of the ANH-VCO in the country today. PROSOURCE, makers and traders of traditionally processed VCO, will represent VCO producers following the fermentation with heat process. Reports say that there are now almost 300 manufacturers of Virgin Coconut Oil in the country, following four different processes: Cold Process-A No Heat (ANH-VCO) method, Traditional, which is the heated/cooked method, Centrifuge, using the centrifuge machine with the aid of a vacuum evaporator and the Expelling method that uses the expeller press or also called the dry process or desiccated coconut method.

       The Senate Committee on Energy chaired by Senator Miriam Santiago is set to approve the proposed Biofuels Act of 2006 which imposes mandatory use of biofuel blends and provides fiscal incentives for investments offering these products. The measure sets a minimum volume of 1% biodiesel to be blended with fossil diesel for use in diesel engines effective immediately upon implementation of the law. For bioethanol fuel blend the minimum volume of ethanol in the mix is 5% and to be sold within two years after the law is put into effect.

       The UCPB-CIIF Finance and Development Corp. granted recently a P10-million loan to Juboken Enterprises, Inc., a local company that produces coconut coir-based products for the local and foreign markets. The loan is the first to be granted under its newly-launched Cocopreneur Financing Program, a rural credit program that seeks to increase coconut farm household income by financing small businesses that utilize or process the various parts of the coconut tree. UCPB-CIIF Finance is a subsidiary of the United Coconut Planters Bank (UCPB).

       Figures from the Coconut Development Authority in Sri Lanka show the country’s desiccated coconut export dropped 15% in November 2005 to 2,570 MT from 3,013 MT at the same time a year earlier. This was traded at an average price of USD902/MT FOB, down 11.3% compared to USD1,018/ MT in November year-ago. Total export for the 11-month period ending November amounted to 30,017 MT, a sharp drop by 41% from comparable period year-earlier figure at 52,396 MT.

       The same source also indicates export of copra in November expanded 14% year-on-year to 1,941 MT from 1,699 MT. Pakistan was the primary market during the month, virtually cornering all of the month’s shipment with 1,783 MT (91.9%). Other destinations were Bangladesh at 108 MT, Lebanon at 21 MT, United Arab Emirates at 14 MT, India 10 MT and U.S. 5 MT. January-November total stood at 15,500 MT, increasing from year-ago at 13,569 MT.

       U.S. import of nine key vegetable oils in 2005 rose 8% to 1.928 million MT from 1.783 million in the previous year. Annual figures for 2000-2003 were steady at around the 1.5 million MT level. According to Robert Reeves, president of the Institute of Shortening and Edible Oils (ISEO), the rise in demand is for food consumption on account of the change in formulations due to the Food and Drug Administration’s new food regulation requiring the declaration of trans fat on food labels effective on January 01 this year.