Export of Coconut Products Down in September

Official data from the Philippine Statistics Authority showed Philippine export of coconut products dropped 18.9% in September to 143,325 MT in copra terms from 176,661 MT in the same month last year.  Gross export receipts likewise dropped but more sharply by 32.9% to USD112.807 million from USD168.065 million for the most part dragged by low volume and prices led by coconut oil.

Export of coconut at 75,126 MT plunged 19.3% from 93,124 MT along with desiccated coconut which slightly declined 3.7% at 13,830 MT from 14,359 MT and oleochemicals which plummeted 59.4% at 2,695 MT as copra from 6,645 MT.  Only copra meal grew among the major exports though marginally by 1.8% at 21,396 MT from 21,008 MT.

Other products performed as follows, in MT: coco shell charcoal 7,311 (-10.5% from 8,164 last year), activated carbon 6,630 (+5.0% from 6,317), virgin coconut oil 1,510 (-26.9% from 2,066), coco water 705,504 liters (-89.4% from 6,666,420), fresh coconut 213,906 nuts (+265.6% from 58,513), Others 19,893 (+66.3% from 11,964).

Despite two consecutive months of year-on-year declines, export in January-September which accumulated to 1,584,421 MT in copra terms still surpassed same period last year total at 1,211,441 MT by a hefty 30.8%.  Corresponding revenue, however, fell 10.9% to USD1.245  billion from USD1.398 billion.  

Breakdown by volume is as follows, in MT: copra nil (92 last year), coconut oil 871,346 (649,584), copra meal 233,163 (272,015), desiccated coconut 110,417 (91,382), oleochemicals as copra 30,619 (38,979); coco shell charcoal 60,003 (59,536), activated carbon 59,908 (54,901), virgin coconut oil 16,193 (17,901), coco water 49.261 million liters (61.031 million), fresh coconut 1.811 million nuts (1.031 million), Others 141,948 (86,328).