For week ending Apr. 24, 2008

       First quarter total this year at 471,685 MT in copra terms topped corresponding year-ago period data at 249,593 MT by a whopping 89.0%. Breakdown is as follows, in MT: coconut oil 257,990 (111,749 last year), copra meal 118,046 (65,309), desiccated coconut 21,669 (31,212), oleochemicals as copra 28,675 (23,958).

       Korea, which has been the top importer of Philippine copra meal, was virtually an exclusive buyer this month handling 96.0% or 25,713 MT. The remainder at 1,063 MT (4.0%) was delivered to New Zealand. Of note is the absence of Vietnam, consistently the number two buyer, from the market.

       The Association of Coconut Brokers, Inc. (ACBI) reports it has a new set of officers for term 2008/09 as follows: President - Michael C. Bayangos, Eisellgen House of Trade; Vice-President - Roberto N. Padrigon, Jr., Raco Commodities Philippines, Inc.; Secretary - Manuel J. Igual, Igual Commodities; Treasurer - Enrique J. Uy, EU Sons Trading Corp.

       FNRI Director Mario Capanzana said the use of coconut flour in the formulation of different food products will provide consumers with alternative sources of dietary fiber and will also benefit the coconut industry. The products are similar to their regular counterparts but are made special by the addition of coconut flour. He said fiber-rich foods, such as coconut flour, promote a healthy heart, aid in the proper management of weight, control diabetes, and prevent the risk of certain cancer.

       Green Corp. said it would deploy the GS1000, the company’s most advanced bio-diesel automated batch processor. The GS1000 has patented technologies, offering many unique designs and safety features and is completely a Canadian product. The project targets a production rate of 1,000 liters per day of coconut methyl ester per unit in 10 hours and will initially benefit 5,000 families and 100 farmers’ organizations and cooperatives in the Philippines over a two-year period beginning this year. Similar projects will be launched in other Asian countries such as Malaysia, Indonesia, Thailand and Vietnam according to Green Corp.

       Research results have shown that diabetics who use coco sugars are able to stabilize their blood sugar levels. This is because the glycemic index of coco sugar is very low at 35, a level that is good for the proper control of diabetes mellitus. Coco sugar is also rich in nutrients and high in potassium, phosphorus, magnesium, sulfur, calcium and Vitamin C. Rivera said the Philippines has the potential to become a dominant player in the coco sugar market since it is the top coconut exporting country in the world. At present, coco-sugar is sold exclusively at PCA offices nationwide at P180 per kilo. PCA-ZRC alone produces 100 kilos of coco sugar per week.

       Datuk Sabri Ahmed, chairman of the Malaysian Palm Oil Board (MPOB), told reporters at the International Palm Oil Sustainability Conference 2008 that Malaysia is ready to supply 2.5 million MT of sustainably produced and certified palm oil to European buyers and the rest of the world. He added that smallholders, on the other hand, could take longer to get up to the RSPO standard, which the big producers have already adapted. MPOB is putting in more efforts in terms of training for them.

       According to the London-based The Public Ledger, Sri Lankan desiccated coconut prices have eased off in recent weeks after a major reduction in the country’s import duty on vegetable oils to 5% from the previous level of 28%. European traders quoted Sri Lankan fine and medium grades of fair, average quality a fortnight ago at $1,970/MT c&f Europe compared with $2,090/MT and $2,080/MT c&f Europe, respectively, during the first week of April. However, even with the reduced quotes, Sri Lankan desiccated coconut remains significantly higher priced than that from the Philippines at $1,920 or Indonesia at $1,960/MT c&f Europe.

       A panel at the Ministry of Economy, Trade and Industry came up with a program to use untapped biomass energy sources, including logging residues and rice straw. The program, dubbed the “Biomass Nippon Case” said Japan could produce 15,000 kl of biofuels annually from these resources already available in the country at a cost of 100 yen per liter. Japan is trying to introduce at least 500,000 kl of biofuels in 2010 in an attempt to meet its requirement of reducing greenhouse gas emissions by an average of 6 percent from 1990 levels between 2008 and 2012 under the Kyoto Protocol. The country has virtually no domestic biofuels supplies. Most of its biofuels at present are imported as it is expensive to produce them in the country costing in the range 100 yen to several thousand yen per liter.