All systems go for the 10th Annual UCAP Golf Open which will be held on Friday, November 21, 2008 at the Sherwood Hills Golf Club, Trece Martires City, in Cavite. Tee off time will be 7:30 AM after the ceremonial tee off. As in previous tournaments, the System 36 scoring format will be used in this one-day event. Tentative flight assignments have been prepared for the 48 golf enthusiasts participating in the tournament. Trophies await the top golfers in their respective classes and special awards for fun holes winners. As in past events, door prizes and major prizes will be raffled off. Participants also will receive goody bags as they register for the tournament.

       Official figures from the Philippine Coconut Authority (PCA) show Philippine export of coconut products in August totaled 90,957 MT in copra terms, declining by 38.3% from 147,403 MT in a similar month a year earlier. Corresponding revenue, however, at USD97.843 million slightly exceeded by 2.4% prior year figure at USD95.577 million, mainly buoyed by much improved border prices.

       The decline in export volume was largely on account of coconut oil which saw a steep fall of 48.5% year-on-year to 38,823 MT from 75,391 MT. Oleochemicals likewise reflected a deficit of 57.2% at 4,516 MT in copra terms from 10,553 MT. On the other hand, gainers among the major exports were desiccated coconut and copra meal. The former boosted shipment by 44.5% to 16,058 MT from 22,103 MT and the latter climbed 35.2% to 29,875 MT from 22, 103 MT. Other products performed as follows, in MT: coco shell charcoal 1,820 (-11.6% from 2,058 year-ago), activated carbon 1,121 (-52.0% from 2,335), glycerin 1,226 (-51.9% from 2,548), fresh coconuts 108 (+121.1% from 49), Others 1,791 (-46.1% from 3,322).

       PCA data also indicated export of coconut oil in August consisted of 27,606 MT crude coconut oil, 9,820 MT cochin oil (refined, bleached oil), and 1,397 MT RBD oil. The US was the month’s market leader cornering 23,020 MT (59.3% share) made up of 17,500 MT crude coconut oil, 5,450 MT cochin oil and 70 MT RBD oil. The European market took in 10,003 MT (25.6%) of crude coconut oil, specifically Netherlands 8,001 MT and Spain 2,002 MT.

       Desiccated coconut continues to have the widest cover in terms of market destinations numbering 39 in August. Belgium was the month’s top market with 2,943 MT (18.3% share) dislodging perennial market leader US with 2,422 MT (15.1%). Strong third was United Kingdom with 2,334 MT (14.5%), tracked by Australia 1,341 MT (8.4%), and Canada 1,208 MT (7.5%). Significant volumes also went to Germany 919 MT, France 693 MT, and Poland 670 MT for a combined market share of 14.2%.

       Export of coconut shell charcoal in August went to only two destinations with Japan as an almost exclusive market purchasing 1,545 MT or 84.9% of total. The other market was Korea with 275 MT (15.1%).

       Chemrez Technologies Inc., the Philippines’ leading supplier of coco biodiesel as well as key ingredients for the soap and detergent industry, reported a 29.5% jump in consolidated revenues for the first nine months of 2008 to P3.55 billion from P2.74 billion recorded for the same period last year despite raw material and energy costs which affected some markets. The growth in revenue was mainly attributed to the increase in sales volumes from the oleochemicals group and several resins product lines as the share of its “Green Chemistry” products in total revenues continues to grow.

       Figures from USDA show the U.S. imported 60,573 MT of lauric oils in September, lower by 1.6% from 61,587 MT at the same time last year. Coconut oil at 44,167 MT represented 72.9% of total purchases and the remainder was palm kernel oil at 16,406 MT. Import of coconut oil during the month increased by 24.3% year-on-year from 35,521 MT, while that of palm kernel oil sharply declined by 37% from 26,066 MT.

       The Philippines was top supplier of lauric oil to the U.S. during the month with shipment of 33,907 MT of coconut oil, the equivalent of 56.0% of total import. The volume expanded by 9.5% from 30,949 MT a year ago. Delivery from Malaysia at 16,486 MT slumped by 27.1% from year-ago at 22,618 MT. The lauric mix consisted of 16,406 MT palm kernel oil (22,073 MT year-ago) and 80 MT coconut oil (545 MT).

       Indonesia was responsible for 10,180 MT made up of coconut oil only, higher by 26.9% from prior year at 8,020 MT that comprised 4,027 MT of coconut oil and 3,993 MT palm kernel oil. Malaysia and Indonesia respectively contributed 27.2% and 16.8% to total lauric oil import.

       The government of Germany recently passed a legislation that could potentially deliver a bigger blow to the biodiesel market around the globe. Sources said the legislation excludes soy methyl ester (SME) and palm methyl ester (PME) biodiesel from qualifying to meet mandated blend volumes. SME- and PME-based fuels will also not qualify for the country’s excise tax reduction applicable to the B100 market. The double-whammy against the fuels could decimate as much as a 300-million-gallon import market in Germany. Marc Van Driessche, World Energy’s VP of Business Development for Europe said the impetus for the bill is sustainability. Fuels derived from stocks grown on non-agricultural land, such as rain forest, are being targeted in favor of rapeseed methyl ester or even used cooking oil-based biodiesel.

       According to Plantation Industries and Commodities Minister Peter Chin, the price of diesel blended with palm biodiesel at the pump will remain the same as regular diesel when it is introduced in Malaysia next year, adding that if there is any burden of cost to be borne, it will be borne by the government. Beginning February next year, Malaysia will use the B5 blend (5% biodiesel with 95% regular diesel) in government vehicles, followed by the industrial and transport sectors. Mr. Chin said the blending of palm biodiesel ranging from 2% to 5% in the national diesel system will potentially reduce palm oil stocks by between 200,000 MT and 500,000 MT per year.

       India’s total imports of edible oils in the 2008/09 season could drop by 5% to 5.605 million MT from 5.94 million MT in the previous season due to slower than expected demand growth, higher opening stocks, and greater local production, Dorab Mistry, director of Godrej International and a leading analyst, told participants at the Japan Oilseeds Processors’ Association Annual Forum in Tokyo last month.