Philippine Export of Coco Products Down in September

Thursday, November 1, 2018

According to UCAP preliminary data, Philippine export of coconut products in September reached 132,089 MT in copra terms, 16.8% below same month last year at 158,730 MT to register its third consecutive month of year-on-year shortfall. The figure, however, is just 325 MT behind the unofficial August total at 132,414 MT.  

Total export this month, however, exceeded the average of the past eight months (January-August) at 127,862 MT by 3.3%.  All export products but copra meal also topped their respective monthly average tonnage.  

Coconut oil export was 71,230 MT, downsizing last year shipment at 82,537 MT by 13.7%.  The figure should have been 10,000 MT higher but the volume was left unshipped due to late vessel arrival. This should now become part of October total.  Compared to the average monthly shipment at 69,525 MT, this month volume was 2.5% higher.  A good portion of the month’s shipment (43.5%) was consigned to Europe at 31,000 MT.  The US accounted for 28.9% or 20,600 MT and Malaysia 24.4% or 17,380 MT while Japan handled 2,250 MT (3.2%). 

External trade of copra meal was 12,150 MT.  This pruned down last year total at 51,106 MT by a whopping 76.2% and slashed the monthly average at 31,515 MT by 61.4%.  Vietnam and Korea were the only destinations recorded during the month with Vietnam cornering 75.3% or 9,150 MT. Korea held the remaining 24.7% or 3,000 MT.  

Outbound load of desiccated coconut at 9,169 MT scaled back by a hefty 29.0% last year data at 12,907 MT but bested by 5.7% the monthly average at 8,678 MT.  Oleochemicals similarly posted a huge deficit of 37.5% with total as copra at 4,850 MT far below 7,764 MT of the prior year. However, current tonnage was 18.9% above average at 4,080 MT. 

There was no export of copra during the month, as of this report, as last year.  The latest shipment on record this year was 24 MT in July.  

January-September export aggregated 1,155,007 MT in copra terms, trimming by 11.3% same time last year total at 1,301,763 MT.  Breakdown is as follows, in MT: copra 92 (88 last year), coconut oil 627,430 (707,248), copra meal 264,266 (147,910), desiccated coconut 78,591 (84,631), oleochemicals as copra 37,486 (48,214). 

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