Export of Philippine coconut products in August declined 19.7% year-on-year to 73,022 MT in copra terms from 90,967 MT based on preliminary UCAP data. Value of export was estimated at USD38.980 million, scaling back prior year revenue of USD87.062 million by 55.2%; figures exclude oleochemicals data. Low volume and prices combined to reduce export proceeds considerably.

       All export products under review suffered shortfall from last year. Coconut oil fell 8.0% from 38,823 MT to 35,700 MT, shipment of by-product copra meal slipped 3.6% from 29,875 MT to 28,793 MT. Desiccated coconut and oleochemicals showed massive cutback with the former diving 43.1% from 16,058 MT to 9,144 MT and the latter plummeting 50.9% from 4,516 MT to 2,218 MT in copra terms.

       Shipment of coconut oil during the month at 35,700 MT went largely to Europe. The continent was responsible for more than two-thirds (67.8%) of total lifting or 24,200 MT. The United States captured 11.9% or 4,250 MT, trailed by Japan with 3,250 MT (9.1%), China 2,000 MT (5.6%) and Korea 2,000 MT (5.6%).

       The ?King of Foods,? the coconut, the fruit of the tropical palm tree, recently got a royal treatment it so richly deserves, courtesy of a prime time TV program in the United States. It is also enjoying brisk sales in American supermarkets nowadays. The top-rated TV show, ?Good Morning America,? featured the coconut lengthily last Aug.16, particularly coconut water and its many health benefits, with Ms. Ashley Koff, a registered dietitian, serving as the resource person. ?Coconut water, unlike coconut milk, contains no fat, and more potassium than a banana,? Koff said.

       Coconut water, also called coconut juice, is a clear, sweet and tasty liquid found inside a fresh coconut, whether from a young, immature coconuts (buko juice for Filipinos; 6-7 month-old) or from mature ones (12-24 month old). Asian and Pacific Islanders, who drink lots of coconut water, refer to it as the ?Fluid of Life,? according to Bruce Fife, a doctor on naturopathy and a recognized authority on coconut. Reports have it that the oldest resident in exotic, quaint Itbayat in Batanes province, Prudencia Capito, still hale and hearty at 98, drinks buko juice instead of water. Even the World Health Organization has recommended coconut water for stomach problems.

       Mrs. Teresa Eleazar-Santos, a nutritionist and preventive healthcare advocate, is making the nutrients from coconut water readily available to the Filipinos by coming up with her own coconut water label, ?Coco Power?. Mrs. Santos, president of VCO Philippines, a group of producers and traders of virgin coconut oil (VCO) is the pioneering spirit who first brought VCO to the market in 2003, with her Prosource Extra Virgin Coconut Oil brand.

       Data from the Indonesian Palm Oil Producers Association, GAPKI, indicate the country?s palm oil exports in August rocketed 65% to 1.62 million MT from year-ago. Industry officials said the trend had been anticipated as exporters delayed their shipments in the preceding month to benefit from an export tax cut that took effect in August.

       The Secretary General of the Indonesian Palm Oil Producers Association (GAPKI), Joko Supriyono said just recently that the country has started to look at new markets including ones in Asia, Eastern Europe and Middle East, for its crude palm oil (CPO) in anticipation for reduced demand in the EU in the next few years due to the region?s new sustainability criteria for palm oil.

       The Solvent Extractors Association of India (SEAI) said the country?s edible oil import may be in for another record volume for the second year in a row due to a drought that devastated almost half the country oilseed crops. Ashok Sethia, SEAI president said purchases in the year starting on November 1 may rise as much as 6% to 8.5 million MT, with palm oil to account for more than 80% of total. Production of India?s monsoon-sown oilseeds, mainly peanuts, may drop as much as 1.5 million tons after the lowest rainfall experienced in at least seven years forced farmers to plant fewer acres.

       Spain, the world?s biggest olive oil producer, reports an increase of 8.2% in export during the first six months of this year, to 327,179 MT from 302,501 MT in a similar period year-earlier. Better supply and demand from health-conscious consumers helped fuel export gains. Annual sales of Spanish olive oil stayed steady last year at 636,558 MT compared to 641,458 MT in 2007.

       Mariann Fischer Boel, Europe?s agriculture commissioner, said on the sidelines of a meeting of EU agriculture ministers in southern Sweden that a proposal on maximum allowable level for genetically modified (GM) residues in imports should be ready before the end of the year. The move will make possible resumption of import of US soybeans, which have been prevented by the zero tolerance approach on unapproved GM organisms.

       An association representing marine sourced Omega-3 suppliers and food manufacturers, Global Organization for EPA and DHA Omega-3s, has refuted claims that higher demand for the fatty acids is depleting fish stocks. Writing in the Proceedings of the National Academy of Sciences, Professor Rosamond Naylor, Stanford University, said booming demand for fish oil and fishmeal, driven by the popularity of Omega-3, is depleting of fish stocks, and has called for tighter regulation to reduce its use in aquaculture feeding. He said a 4% reduction in fish oil would cut the amount of wild fish needed to produce one pound of salmon from 5 pounds to 3.9 pounds. By contrast, a 4% reduction in the use of fishmeal would have very little environmental impact.