Official data from the Philippine Coconut Authority show Philippine export of coconut products in calendar year 2008 stood at 1,634,266 MT copra terms, slightly lower by 4.3% from prior year at 1,707,870 MT. Gross export receipts, however, shot up 38.7% to historic high of USD1.493 billion FOB from USD1.077 billion year-earlier, mainly on considerable gains in border prices of major exports particularly coconut oil.

       Export of coconut oil modestly dropped by 4.4% to 847,626 MT from 886,561 MT. Revenue, however, for the first time breached the USD1.0 billion mark to a record USD1.034 billion from USD728.613 million year-ago, a massive 41.9% increase, as average traded price leapfrogged 48.4% to record high of USD1,219.48/MT FOB from USD821.84/MT. The previous record high price was USD983/MT in 1984. Shipment of copra meal marginally rose by 2.9% to 435,244 MT from 422,889 MT and hiked earnings pronouncedly by 35.2% to USD58.207 million from USD43.056 million as average traded price jumped 31.4% to USD133.74/MT FOB from USD101.81/MT.

       Delivery of desiccated coconut leaped to a record 142,626 MT, breaking a prior record of 136,203 MT set in 2006. This year?s shipment surpassed last year total at 130,674 MT by 9.1%. The product likewise turned in a record USD240.302 million in foreign exchange. As against last year at USD157.238 million, income this year ballooned by 52.8% buoyed by a significant appreciation of border price by 40.0% to record high of USD1,684.84/MT FOB from USD1,203.29/MT. Previous record high was USD1,395/MT in 1984. In contrast, outbound oleochemicals which totaled 68,318 MT as copra shrank 30.7% from 98,599 MT. Value of export, however, climbed 7.4% to a record USD64.149 million from USD59.711 million.

       Other products performed as follows, in MT: coco shell charcoal 21,979 (-14.0% from 25,553 last year), activated carbon 20,259 (-33.5% from 30,474), glycerin 20,398 (+23.3% from 16,548), fresh coconuts 1,662 (+113.6% from 778), Others 27,213 (-1.1% from 27,522).

       Export of coconut oil in 2008 consisted of 546,546 MT of crude coconut oil, 286,012 MT cochin oil (refined, bleached oil), and 15,068 MT RBD oil (refined, bleached and deodorized oil). Europe was top importer of crude coconut oil with 339,478 MT thereof Netherlands 283,656 MT, Italy 37,848 MT, Spain 12,953 MT, United Kingdom 5,000 MT, Belgium 21 MT; followed by United States with 129,842 MT. Other destinations were China 27,815 MT, Malaysia 21,552 MT, Japan 10,200 MT, India 10,000 MT, Hongkong 5,090 MT, Taiwan 1,479 MT; and Iran, Singapore, Vietnam, Russia and Australia at volume ranging 20-804 MT.

       The United States was leading importer of cochin oil with 225,850 MT, followed by Japan with 43,443 MT, then Korea 4,500 MT, Singapore 4,103 MT, Europe (Netherlands) 3,500 MT, Canada 1,900 MT, Malaysia 1,730 MT; and China, Iran, Taiwan, Pakistan at volume ranging 40-686 MT.

       Japan retained its position as top market for coco shell products from the Philippines. As leading importer of coco shell charcoal in 2008, the country was responsible for 85.9% of total trade or 18,880 MT. Chinese purchases of 1,139 MT and Korea?s 919 MT respectively comprised 5.2% and 4.2% of the market. Other buyers were Hongkong 486 MT, Singapore 439 MT, Taiwan 100 MT and the United States 16 MT.

       Data from the Philippine Coconut Authority show total revenue from the top 10 non-traditional coconut exports amounted to USD58.840 million, topping by a hefty 39.4% previous year turnover at USD42.224 million. The figure exceeded the average aggregate annual revenue in the last four years at USD46 million by 27.9%. Leading the top ten performers was glycerin which earned USD27.888 million from shipment of 20,398 MT. Also the top performer a year ago, value more than doubled from USD12.894 million while volume increased 23.3% from 16,648 MT.

       Toilet/bath soap was second with income of USD5.714 million from sale of 2,366 MT to record dramatic gains respectively of 86.5% from USD3.056 million and 123.3% from 1,069 MT. Strong third and fourth were nata de coco and virgin coconut oil, the former earning USD5.452 million (USD3.932 million year-earlier) from turnover of 5,113 MT (4,586 MT) and the latter USD5.342 million (USD4.991) from purchases of 1,639 MT (1,854 MT). Alkanolamide took the fifth spot with receipts of USD3.673 million (USD1.092 million) from delivery of 1,871 MT (770 MT).

       The Department of Energy (DOE) is considering raising the blend of biodiesel in the diesel fuel mix to three percent from the present two percent by end of this year. DOE Director Mario Marasigan said a technical committee on petroleum products standards is now formulating the guidelines for the increased blend. When finalized, the guidelines will be presented to the public for consultation. The move is consistent with efforts to promote the use of alternative fuels and catch up with developments in other neighboring countries on the use of biofuels such as Thailand where PTT Public Co. Ltd. is already selling B5 or five percent blend of biodiesel.