News

Philippine Export of Coconut Products Up Sharptly in December

Thursday, January 31, 2019

Export of coconut products continued to post year-on-year growth for the fourth month running in December 2018.  UCAP estimates show the month’s shipment shot up 59.9% to 191,344 MT in copra terms from 119,630 MT year-earlier.  The increase was exclusively credited to the sharp leap in coconut oil export.  Compared against November shipment estimated at 147,626 MT, the increment was 29.6%.

Aggregate export in the review month exceeded the monthly average (based on past 11 months, January-November average).  However, on per product basis, only coconut oil and oleochemicals showed above average volumes.  

Coconut oil export rocketed 70.5% at 111,627 MT to record the highest volume for the year.  Last year figure was 65,457 MT.  Tonnage likewise was 51.2% above average at 73,831 MT.  Almost two-thirds (64.1%) of the month’s shipment went to Europe at 71,505 MT.  The US took in a third at 37,772 MT (33.8%) while Japan held 2,350 MT (2.1%). 

Shipment of copra meal at 24,900 MT dropped 23.0% from prior year at 32,324 MT and was 25.7% short of the average 33,525 MT.  Korea was primary destination accounting for nearly three-fourths (74.7%) at 18,600 MT.  Other importers were Vietnam at 3,300 MT and China at 3,000 MT for respective market share of 13.3% and 12.0%.

Delivery of desiccated coconut likewise declined at 5,890 MT from 6,444 MT (-8.6%) and miserably fared below the average at 10,307 MT by 42.9%.  Oleochemicals export at 5,052 MT as copra similarly posted a deficit of 12.0% from 5,744 MT but bested the average at 4,656 MT by 8.5%.   There was no export of copra on record during the month, as of this report, as last year.  

The cumulative export figure for calendar year 2018 stood at 1,707,176 MT in copra terms, rising slightly from 1,692,712 MT at the same time last year.  Breakdown is as follows, in MT: copra 92 (111 last year), coconut oil 923,842 (912,632), copra meal 393,669 (256,172), desiccated coconut 119,270 (115,005), oleochemicals as copra 56,268 (66,174). 

Designed and developed by WebFocus Solutions, Inc.

SiteLock