The tournament, which will be held at the Smashville, Autocamp, Ortigas Avenue, Pasig City, kicks off at 5:00 PM tomorrow. At the Opening Ceremonies, the Invocation will be delivered by Ms. Trina Gorgod of SMC Agribusiness and the Opening Remarks by Mr. Manuel Igual, Jr., Badminton Committee Chairman. Mr. Austin Ledesma, Committee Member, will present the various teams, all nine of them, while Mr. Jack Rammel, Intertek Oil, Chemical & Agri, will lead the Oath of Sportsmanship. Mr. Nemy Pagtakhan of Stolt-Nielsen Transportation Group will be the Emcee.

       Official figures from the Philippine Coconut Authority show the country’s export of coconut products in June this year totaled 132,049 MT in copra terms. This is 16.0% higher than similar month last year data at 113,818 MT and the first year-on-year increase recorded in the current year. Value of export was USD83.913 million, a hefty increase by 50.1% from USD55.910 million year-ago.

       All of major exports but desiccated coconut reflected improved tonnages during the month compared to the prior year. Coconut oil at 68,962 MT boosted shipment by 22.0% from 56,530 MT. Export of by-product copra meal hiked modestly by 3.4% to 35,340 MT from 34,178 MT while that of oleochemicals rocketed 46.8% to 7,050 MT as copra from 4,802 MT. However, delivery of desiccated coconut slumped 19.4% to 10,048 MT from 12,474 MT. Other products performed as follows, in MT: coco shell charcoal 2,263 (-17.9% from 2,755 year-ago), activated carbon 2,197 (-10.2% from 2,446), glycerin 2,733 (+204.4% from 898), fresh coconuts 64 (-77.5% from 284), Others 2,628 (+4.1% from 2,526).

       Coconut oil export during the month consisted of 46,505 MT crude coconut oil, 21,585 MT cochin oil, and 872 MT RBD oil. The U.S. was market leader this month responsible for 52.1% or 35,899 MT while the EU cornered 30.4% at 20,963 MT. Top buyers of crude coconut oil were the U.S. with 25,416 MT and EU, specifically the Netherlands with 20,921 MT. Iran at 168 MT was the only other buyer outside of these two major markets.

       Export of desiccated coconut in June went to 45 countries of which 18 took in volume no lower than 100 MT and collectively comprised 91.6% of the market. The U.S. continued on top of the list with delivery of 2,768 MT (27.5% share), followed by United Kingdom with 1,683 MT (16.8%). The next three significant buyers namely Germany 784 MT, Belgium 558 MT, and Netherlands 516 MT were jointly responsible for 18.5%.

       Japan maintained leadership in both coco shell charcoal and activated carbon. Import of coco shell charcoal at 926 MT represented 40.9% of total. Other destinations were Korea with 519 MT (22.9%), China 386 MT (17.0%), Singapore 248 MT (11.0%), Hongkong 168 MT (7.4%) and Italy 16 MT (0.7%).

       Norberto Barcelo, owner of Barcelo Wines, said some hotels and restaurants in the Visayas and Mindanao already serve the native red coconut wine locally known as tuba bahalina, a low-priced intoxicating drink that is popular among the masses in the Visayas and Mindanao. Mr. Barcelo is also targeting supermarkets and restaurants in Cebu and Zamboanga to distribute his product.

       In Metro Manila, the native wine is available at SM malls, Light Rail Transit (LRT) and Metro Rail Transit (MRT) stations, as well as Rustan’s stores. Mr. Barcelo added that he is also negotiating with some transport groups to facilitate the transport of his wine outside the region. Barugo, where the Barcelo Wines and other coconut wine suppliers are based, lies 52 kilometers away from Tacloban City. The town holds an annual festival in May in honor of the age-old process of coconut wine making. The Sanggutan festival is marked by dances performed by managgetes or tuba gatherers and the women involved in the production of the red coconut wine.

       With demand from key Middle Eastern countries for the Ramadan festival over, Sri Lankan desiccated coconut prices have fallen in the last few weeks. Fortnight ago, traders in Europe quoted Sri Lankan fine grades of fair average quality (faq) at $1,290/MT c&f Europe, slightly depreciating by 1.5% from $1,310 week-earlier. Medium faq grades were reported at $1,300 against $1,320/MT c&f Europe week-before.

       Warren Dick of UK Duche said after buying for the Ramadan tailed off last month, Sri Lankan prices eased off to levels from Philippines and Indonesian origin. However, Mr. Dick added that further cuts on the Sri Lankan prices would likely be limited because of high coconut oil prices. He also explained that Indonesia and the Philippines were well sold because they have been selling substantial volumes into Europe at a time when Sri Lankan prices were very high.

       Palm oil prices could hit a record $875 a ton in the near future as demand is likely to surge higher than supplies, while prices of soya oil are also set to leap and could even hit $1,000 a ton, Dorab Mistry, director of Godrej International said at a vegetable oil conference in Goa, India. He projected that demand for edible oils would rise by 5 million MT in the new marketing year ending October 2008 while supplies would only increase by around 3.9 million MT.