Following is the team standing after the first game last Friday, June 29, 2007: (1) United Coconut Planters Bank, (2) Mitsubishi Living Essentials-E.U. Sons Trading-Pacific Royal Basic Foods (MEP), (3) CIIF Oil Mills Group, (4) POMS Ventures Corp., (5) Inter-Asia Marine Transport, (6) San Miguel Corp. Agribusiness (7) Sakamoto Orient Chemicals, (8) Pilipinas Kao, Inc., (9) Raco Commodities-Transeaboard, (10) United Coconut Chemicals, (11) Cargill Philippines, (12) Dumaguete Coconut Mills.

       Official figures from the Philippine Coconut Authority show Philippine export of coconut products in March this year plunged 65.3% from 237,478 MT in copra terms in a similar month last year to 82,517 MT. This is the sharpest year-on-year drop in three months which saw continuous shortfall. Revenue likewise tumbled 43.7% from USD93.956 million to USD52.862 million.

       All major exports clipped respective prior year totals led by coconut oil which dived 71.0% from 134,775 MT to 39,054 MT, followed by oleochemicals which shrank 18.3% from 5,397 MT as copra to 4,412 MT. Copra meal contracted 15.8% from 34,802 MT to 29,320 MT and desiccated coconut fell 11.2% from 11,740 MT to 10,423 MT. Other products performed as follows, in MT: coco shell charcoal 1,256 (1,901 year-ago), activated carbon 2,913 (3,381), glycerin 973 (1,061), fresh coconuts 105 (257), Others 2,496 (2,132).

       Export of coconut oil during the month consisted of 25,750 MT crude coconut oil (CNO), 10,150 MT cochin oil, and 3,154 MT RBD oil. Europe was top destination capturing 24,750 MT to represent 63.4% market share; shipment was solely crude coconut oil for the Netherlands. Japan was second biggest buyer with uptake of 8,025 MT made up of 1,000 MT CNO, 5,025 MT cochin oil, and 2,000 MT RBD oil. The U. S. was third with 5,573 MT and responsible for 14.3%. The product mix comprised of 5,000 MT cochin oil and 573 MT RBD oil. Other markets were China (379 MT), Iran (223 MT), and Egypt (104 MT); except for 125 MT cochin oil to China, all shipments were RBD oil.

       Japan was market leader in coco shell charcoal which imported 940 MT or nearly three-fourths of total sales (74.9%). Other buyers were Korea 188 MT (15.0%) and Taiwan 128 MT (10.2%).

       The Asian and Pacific Coconut Community (APCC) with the assistance of the Ministry of Plantation Industries and Commodities of the Government of Malaysia will organize and conduct the Roundtable Discussion-Meeting by Specific Clusters in the Coconut Industry of Some APCC Member Countries on August 8-9, 2007 at the Novotel Hydro Majestic Hotel, Kuala Lumpur, Malaysia. Expected to participate are relevant stakeholders, private individuals, entrepreneurs, exporters from the following industry sectors: a) coconut oil, oleochemical, coco-biodiesel; b) desiccated coconut, coconut cream, coconut milk; c) coir fiber.

       Figures from Oil World show U.S. import of lauric oil significantly dropped by 77.0% year-on-year in April this year, largely on account of reduced uptake of coconut oil. Total delivery amounted to 20,000 MT which recorded a shortfall of 67,100 MT from year-ago at 87,100 MT. Coconut oil import declined substantially by 96.7% to 2,100 MT from 64,400 MT while that of palm kernel oil fell only slightly by 21.1% to 17,900 MT from 22,700 MT.

       Malaysia was the biggest supplier (69.0% of total) of lauric oil with shipment of 13,800 MT of palm kernel oil during the month. The volume increased by 25.5% from year-ago at 11,000 MT. There was no record of coconut oil delivery this month as against 4,600 MT year-ago. Supply from Indonesia was 4,000 MT (20.0%), down by 83.6% from last year at 24,400 MT. This year’s shipment was palm kernel oil only while last year, total included 12,700 MT of coconut oil and 12,700 MT of palm kernel. The Philippines contributed 2,000 MT of coconut oil only (10.0%), to record a sizable deficit of 95.8% from year-ago at 47,100 MT.  

       After raising export tax on palm oil products in mid-June, an Indonesian government minister said the government is considering lowering the tax if local cooking oil prices ease beyond a certain level. The export tax on palm oil products was raised to 6.5% from 1.5% in an effort to ease domestic prices and inflation. Bayu Krisnamurthi, deputy to the coordinating economics minister, noted reduction in prices down to Rp8,800 (87c) from Rp9,000/kg since the tax was introduced. However, it is still off the government’s initial target of Rp6,500 to Rp6,800/kg. The minister said prices should shortly come down to Rp7,000/kg at which point it might consider lowering the tax.

       Canada Health Minister Tony Clement announced last month that Canada is adopting the Trans Fat Task Force’s recommendation on trans fats in Canadian foods and called on the country’s food industry to limit the total trans fat content of vegetable oils and soft, spreadable margarines to 2 percent and the total fat content for all other foods to 5 percent, including ingredients sold to restaurants. He explained that the move was a way to ensure that Canadians can reduce the risk of heart disease and be healthy now and in the future.

       The industry is given two years to reduce trans fats to the lowest levels possible as recommended by the Trans Fats Task Force, a multi-stakeholder group led by Health Canada in conjunction with the Heart and Stroke Foundation of Canada. To ensure that industry is making progress, Health Canada will closely monitor the actions of industry over the next two years. If significant progress has not been made during the period, government will regulate to ensure the levels are met.