Export of coconut products in October rose sizably by 21.5% to 165,910 MT in copra terms from a similar month last year data at 136,583 MT, based on preliminary UCAP figures. However, export revenue during the month estimated at USD78.553 million was precipitous drop by 31.3% from USD114.270 million in October last year. Despite appreciable increase in volume traded, income was scaled back substantially by low traded prices. Revenue totals exclude data from oleochemicals.

       The increase in consolidated volume was largely credited to coconut oil which hiked shipment by 28.7% to 90,940 MT from 70,655 MT in the same month last year. Similarly, copra meal trade shot up by 125.7% to 50,939 MT from 22,568 MT. Apart from coconut oil and copra meal, another gainer of note during the month was oleochemicals with delivery expanding by 24.7% to 5,448 MT in copra terms from 4,370 MT. This is the first year-on-year growth recorded by oleochemicals since March 2008. Only desiccated coconut registered reduction in purchases by 19.7% at 10,422 MT from 12,976 MT. Although desiccated coconut export had seen year-on-year decline since April this year, the month-on-month data portrayed continuous uptrend since June to date.

       The United States was the biggest buyer of coconut oil during the month with purchases of 46,460 MT representing 51.1% of total sales. Europe was responsible for 40,053 MT to account for 44.0%. Other importers were Japan with 3,427 MT and China with 1,000 MT, for respective market share of 3.8% and 1.1%.

       The tournament held last Friday, November 20 at the Summit Point Golf and Country Club in Lipa City, Batangas attracted 50 golfers from the coconut industry and other companies providing ancillary services to the industry. Declared Champion, Low Gross was Nemie Pagtakhan of Stolt-Nielsen Phils.; Champion, Low Net was Renato Kapauan, a guest of Raco Commodities.

       Class A Champion was David Shim, Concordia Agritrading; 1st Runner Up, Steve Albano, Raco Commodities; 2nd Runner Up, Carlos Tuason, Citadel Lines. Class B Champion was Lope Torres, Cocolife; 1st Runner Up, Dr. Nap Tan, Chemrez Technologies; 2nd Runner UP, Stewart Moon, Concordia Agritrading. Class C Champion was Fred Magallon, guest of Bermant Trade Services; 1st Runner Up, P.Y. Yoon, Concordia Agritrading; 2nd Runner Up, Patrick Ronas, Soriamont. Class D Champion was Andrei Jugo, Soriamont; 1st Runner Up, Allan Ramirez, Chemrez Technologies; 2nd Runner Up, Corleto Gutierrez, American President Lines.

       UCAP thanks the sponsors, donors, tournament participants, and last but certainly not the least the Golf Tournament Committee chaired by Nemie Pagtakhan of Stolt-Nielsen Phils. for their support in making the tournament a success. The tournament sponsors were as follows: GOLD SPONSORS - Hudson Tank Terminals Corporation; Concordia AgriTrading Pte. Ltd. SILVER SPONSORS - Bermant Trade Services; CIIF Oil Mills Group. DONORS - Chemrez Technologies, Dumaguete Coconut Mills, EU Sons Trading Corp., International Oil Factory, Marca Leon, Oleo-Fats, Inc., Peter Paul Philippine Corp., Raco Commodities Phils., San Pablo Manufacturing Corp, Stolt-Nielsen Philippines, Transeaboard Shipping Services Phils.

       USDA figures reveal U.S. import of lauric oils in September this year totaled 81,412 MT, increasing by a hefty 34.4% from 60,574 MT in the same month year-ago. Of this total, coconut oil accounted for 61.2% or 49,852 MT (44,168 MT in the prior year) while palm kernel oil contributed the remaining 38.8% or 31,560 MT (16,406 MT). January-September 2009 total at 571,220 MT rose by 26.2% from 452,549 MT at the same time last year. Coconut oil was 321,150 MT (387,718 MT) of which 67.6% or 217,032 MT (280,795 MT) came from the Philippines. Palm kernel oil was 250,070MT (64,831 MT) of which 84.0% or 210,115 MT (147,731 MT) originated from Malaysia.

       Data from Oil World show China imported 65,700 MT of lauric oils in September this year. This is 46.6% higher than September last year total at 44,800 MT. Palm kernel oil comprised the bulk of import amounting to 55,700 MT (84.8% share) while coconut oil was only 10,000 or 15.2% MT. Import of palm kernel oil during the month grew by a hefty 52.2% from last year at 36,600 MT while that of coconut oil increased by 21.9% from 8,200 MT.

       Indonesia was the country?s major source of lauric oil contributing 74.4% at 48,900 MT. This consisted of 41,400 MT of palm kernel oil (26,100 MT last year) and 7,500 MT of coconut oil (7,800 MT). Malaysia supplied 14,300 MT (10,500 MT) of palm kernel oil only and was responsible for 21.8%. Import from the Philippines was 2,300 MT of coconut oil while shipment from other countries totaled 200 MT (100 MT) of coconut oil.

       Eamon Ryan, Ireland?s Minister for Energy is set to announce that government has approved a biofuel obligation. From July 2010, fuel suppliers will have to include an average of 4% biofuels in their annual sales. The 4% figure is a reduction from the target set by the government in early 2007 for biofuels to represents 5.75% of the fuel mix by 2009. In addition, it will be required that the biofuels used by oil companies must produce 35% less greenhouse gases than fossil fuel. This announcement has been delayed by a year due to controversies relating to food shortages in the developing world during early 2008 which some blamed on biofuels.

       Agriculture Secretary Tom Vilsack announced that 70 U.S. trade organizations received more than $234 million in Fiscal Year 2009 to help promote American food and agricultural products overseas. The announcement was made at the annual convention of the National Association of Farm Broadcasting. ?Agricultural trade is absolutely crucial to the U.S. economy and by providing this funding to U.S. organizations during these difficult economic times will help open new global markets for American food products,? said Vilsack. Among the recipients from the oils/fats sector for Fiscal Year 2009 were the American Soybean Association, National Renderers Association, and National Sunflower Association.

       The Malaysian Palm Oil Board (MPOB) and Orion Genomics announced that a consortium co-led by the Advanced Biotechnology and Breeding Centre has sequenced three oil palm genomes from two palm species, an important food and biofuel crop. This genome sequencing effort provides a comprehensive genetic blueprint of E. oleifera and E. guineensis, including the pisifera and dura palm, they said.